Guideline Value for ANDAL STREET

Andal Street guideline value

The current guideline value of Andal Street in Saidapet village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Andal Street has changed

Since the year 2002, the guideline value for Andal Street has undergone several revisions. In 2002, the value was Rs 443 per sq.ft, which increased to Rs 555 per sq.ft in 2003, marking a 25% rise. The subsequent revisions saw the value jump to Rs 800 per sq.ft in 2007, reflecting a significant increase of 44%. The value then surged to Rs 3,000 per sq.ft in 2012, a remarkable 275% increase. However, between 2012 and 2017, the value decreased by 33% to Rs 2,010 per sq.ft. The guideline value saw a substantial increase of 49% to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 645%. There are no figures available for the years not listed in the revisions.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Andal Street is below this median.

• Anjaneyar Koil Street: Rs 3,300 per sq.ft (2024)
• Amma Kannammal Street: Rs 3,300 per sq.ft (2024)
• Anna Nagar: Rs 3,300 per sq.ft (2024)
• Alandur Road: Rs 6,050 per sq.ft (2024)
• Anna Salai: Rs 13,200 per sq.ft (2024)
• Abith Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that 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 Street?

The Sub Registrar Office covering Andal Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a recognized value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Andal Street?

The current guideline value of Andal Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 443 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 645% over the years.

What are the other streets in Saidapet with the same guideline value?

Other streets in Saidapet with a guideline value of Rs 3,300 per sq.ft in 2024 include Anjaneyar Koil Street, Amma Kannammal Street, and Anna Nagar.

What is the stamp duty for a property in Andal Street?

The stamp duty for a property in Andal Street is charged at 7% of the guideline value. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

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

The Sub Registrar Office for Andal Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.