Guideline Value for ANDAL NAGAR

Andal Nagar guideline value

The current guideline value of Andal Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Andal Nagar has changed

The guideline value of Andal Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 130 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2007, marking a change of 362%. By 2012, the guideline value rose to Rs 1,200 per sq.ft, reflecting a 100% increase from the previous revision. The most recent revision in 2024 set the value at Rs 1,300 per sq.ft, which is an 8% increase from 2012.

It is important to note that there are no figures available for the years 2003, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 900%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Andal Nagar is below this median.

• Andal Koil Street (Madanankuppam): Rs 1,600 per sq.ft (2024)
• Anbu Nagar: Rs 2,100 per sq.ft (2024)
• Ananthalakshmi Nagar Extension: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Anand Garden: Rs 1,600 per sq.ft (2024)
• Amman Koil Street @ Nagathamman Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000. Together, the total cost for duty and registration would be Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Nagar?

The Sub Registrar Office that covers Andal Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for both the buyer and seller. It is important to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Andal Nagar?

The current guideline value of Andal Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 130 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 900%.

What is the land classification of Andal Nagar?

The land classification for Andal Nagar is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Andal Nagar?

The Sub Registrar Office for Andal Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in Andal Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.