Guideline Value for ANDAVAR NAGAR 1ST STREET

Andavar Nagar 1st Street guideline value

The current guideline value of Andavar Nagar 1st Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Andavar Nagar 1st Street has changed

The guideline value for Andavar Nagar 1st Street has seen several revisions over the years. In 2002, the value was Rs 697 per sq.ft, which increased to Rs 766 per sq.ft in 2003, marking a 10% rise. The value remained stable until the next revision in 2012, where it was recorded at Rs 5,800 per sq.ft. This represented a significant increase of 657% from the 2003 figure. However, in 2017, the value dropped to Rs 3,886 per sq.ft, which was a decrease of 33% from the previous revision.

From 2017 to 2023, the guideline value rose sharply to Rs 5,800 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 6,300 per sq.ft, a 9% increase from the 2023 figure. It is important to note that the register has no figure for this street in 2007.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, indicating that Andavar Nagar 1st Street's 2024 value is above this median.

• Andavar Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Andavar Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Andavar Nagar 4th Street: Rs 6,300 per sq.ft (2024)
• Andavar Nagar 5th Street: Rs 6,300 per sq.ft (2024)
• Andavar Nagar 6th Street: Rs 6,300 per sq.ft (2024)
• Andavar Nagar 7th Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Andavar Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total fees together to Rs 5,67,000. 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 Andavar Nagar 1st Street?

The Sub Registrar Office that covers Andavar Nagar 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Puliyur. It determines the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately for taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are paying the correct amount based on the value set by the government, which is essential for legal compliance in property transactions.

Frequently asked questions

What is the current guideline value of Andavar Nagar 1st Street?

The current guideline value of Andavar Nagar 1st Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 697 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 804% over the years.

What is the land classification for Andavar Nagar 1st Street?

Andavar Nagar 1st Street is classified as Residential Special Type - III, indicating its suitability for residential development.

What are the stamp duty rates applicable in Andavar Nagar 1st Street?

The stamp duty rate for properties in Andavar Nagar 1st Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find more information about the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more details, you can visit the find your SRO page.