Guideline Value for ANDHU STREET

Andhu Street guideline value

The current guideline value of Andhu 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 Andhu Street has changed

The guideline value for Andhu Street has seen several revisions over the years. Starting from Rs 872 per sq.ft in 2002, it increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value then saw a modest increase to Rs 1,000 per sq.ft in 2007, which was a 3% change. A significant jump occurred between 2007 and 2012, where the value surged to Rs 8,000 per sq.ft, reflecting a 700% increase. The value remained unchanged at Rs 8,000 per sq.ft from 2012 until 2023.

The most recent revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, indicating a 10% increase from the previous year's figure of Rs 8,000 per sq.ft. Notably, there is no figure available for the year 2017 in the register for this street.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, which is equal to the current guideline value of Andhu Street.

• Andal Nainiyappan 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 Andhu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees together to Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Andhu Street?

The Sub Registrar Office that covers Andhu 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 during property registration in Mylapore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are recorded at a fair value as per the state guidelines.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Andhu Street?

The current guideline value of Andhu 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 increased from Rs 872 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 909% over the years.

What are the stamp duty and registration fees for property in Andhu Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers Andhu Street?

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

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum value for registration and is used to calculate stamp duty and registration fees, ensuring compliance with state regulations.