Guideline Value for ANDAL NAINIYAPPAN STREET

Andal Nainiyappan Street guideline value

The current guideline value of Andal Nainiyappan Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Andal Nainiyappan Street has changed

Looking at the historical guideline values, in 2002, the value was Rs 821 per sq.ft. This increased to Rs 912 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,540 per sq.ft, which is a 69% increase from the previous revision. The 2012 revision saw the value at Rs 8,000 per sq.ft, a substantial increase of 419% from 2007. However, in 2017, the value dropped to Rs 5,360 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision set the value at Rs 8,000 per sq.ft, which then increased to Rs 8,800 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 972%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, which aligns with the current guideline value of Andal Nainiyappan Street.

• Andhu Street: Rs 8,800 per sq.ft (2024)
• Ananda Salai: Rs 8,800 per sq.ft (2024)
• Anandapuram: Rs 8,800 per sq.ft (2024)
• Anandam Colony: Rs 8,800 per sq.ft (2024)
• Ammaniammal Street: Rs 8,800 per sq.ft (2024)
• Annai Sathya Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nainiyappan Street

For a property of 1,000 sq.ft at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 Nainiyappan Street?

The Sub Registrar Office that covers Andal Nainiyappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mylapore. It is the minimum value set by the government for the purpose of registration and taxation. When a property is bought or sold, the transaction must be registered at the Sub Registrar Office, and the guideline value is used to determine the applicable stamp duty and registration fees.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Andal Nainiyappan Street?

The current guideline value of Andal Nainiyappan Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 821 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, representing an overall increase of 972%.

What are the registration fees for properties on this street?

The registration fees are calculated based on the guideline value. For a property valued at Rs 88,00,000, the registration fee would be Rs 1,76,000 at 2%.

Where can I find the Sub Registrar Office for this street?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate the applicable stamp duty and registration fees during property transactions.