Guideline Value for ANDAVAR STREET / NAGAR

Andavar Street / Nagar guideline value

The current guideline value of Andavar Street / Nagar in Ramapuram village is Rs 3,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Andavar Street / Nagar has changed

The guideline value for Andavar Street / Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 304 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. This was followed by a significant rise to Rs 2,800 per sq.ft in 2012, but it then decreased to Rs 1,876 per sq.ft in 2017. The value rose again to Rs 2,800 per sq.ft in 2023, and currently stands at Rs 3,100 per sq.ft as of the 2024 revision. Notably, there is no figure recorded for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 is 11%. The most significant increase occurred from 2003 to 2007, where the value rose by 229%. Overall, from 2003 to 2024, the guideline value has increased by 920%.

Guideline values in Ramapuram

In Ramapuram village, there are 394 streets under the Chennai South Joint II SRO that have a guideline value for 2024, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, which is the same as the current guideline value for Andavar Street / Nagar.

• Andavar Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Andavar Nagar 1 to 3 Street: Rs 3,100 per sq.ft (2024)
• Aneez Nagar: Rs 3,100 per sq.ft (2024)
• Andal Nagr III Cross Street: Rs 3,100 per sq.ft (2024)
• Andal Nagr II Cross Street: Rs 3,100 per sq.ft (2024)
• Andal Nagr I Cross Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Andavar Street / Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total fees to Rs 2,79,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andavar Street / Nagar?

The Sub Registrar Office that covers Andavar Street / Nagar 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is documented accurately, reflecting the official value of the property as determined by the government. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for Andavar Street / Nagar?

The current guideline value for Andavar Street / Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 304 per sq.ft in 2003 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 920% over this period.

What is the registration office for Andavar Street / Nagar?

The registration office for Andavar Street / Nagar 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.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as an official valuation of the property, ensuring transparency and consistency in the registration process.