Guideline Value for ANEEZ NAGAR

Aneez Nagar guideline value

The current guideline value of Aneez Nagar, located in Ramapuram village, is Rs 3,100 per sq.ft as per the 2024 revision, 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 Aneez Nagar has changed

The guideline value of Aneez Nagar has seen significant changes over the years. In the 2002 revision, the value was Rs 280 per sq.ft, which increased to Rs 346 per sq.ft in 2003. From there, the value rose dramatically to Rs 1,100 per sq.ft in 2007, and then further increased to Rs 2,800 per sq.ft in 2012. However, there was a decrease to Rs 1,876 per sq.ft in 2017, before rising again to Rs 2,800 per sq.ft in 2023, and finally reaching Rs 3,100 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +24%. The value surged by +218% from 2003 to 2007, followed by a +155% increase from 2007 to 2012. There was a decline of -33% from 2012 to 2017, but then a significant rise of +49% from 2017 to 2023, culminating in an +11% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1007%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is equal to the current guideline value of Aneez Nagar.

• Andavar Street / Nagar: Rs 3,100 per sq.ft (2024)
• Andavar Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Andavar Nagar 1 to 3 Street: 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 Aneez Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to 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 cost for these fees to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Aneez Nagar?

The Sub Registrar Office that covers Aneez 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 further assistance.

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

The guideline value is a critical factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Aneez Nagar?

The current guideline value of Aneez 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, increasing from Rs 280 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, with various revisions in between.

What is the land classification of Aneez Nagar?

Aneez Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Aneez Nagar?

The Sub Registrar Office for Aneez 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.

How is the stamp duty calculated for properties in Aneez Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 31,00,000, the stamp duty at 7% would be Rs 2,17,000.