Guideline Value for ANGEL NAGAR

Angel Nagar guideline value

The current guideline value of Angel Nagar, located in Pallikaranai village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Angel Nagar has changed

The guideline value for Angel Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, when it was Rs 66 per sq.ft. This value increased to Rs 100 per sq.ft in 2003, marking a 52% rise. The value continued to grow substantially, reaching Rs 400 per sq.ft in 2007, which was a 300% increase from the previous revision. In 2012, the guideline value rose to Rs 1,200 per sq.ft, reflecting a significant 200% increase. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, which is a 64% increase from 2017. The register has no figure for this street for the year 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1900%, showcasing a substantial growth trajectory over the years.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Angel Nagar's 2024 figure below that median.

• Angala Parameswari Nagar: Rs 1,320 per sq.ft (2024)
• Angalamman Koil Street: Rs 1,110 per sq.ft (2024)
• Anjani Nagar: Rs 1,320 per sq.ft (2024)
• Anjani Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Annai Garden: Rs 1,320 per sq.ft (2024)
• Annai Indira 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Angel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Angel Nagar?

The Sub Registrar Office that covers Angel Nagar is the Chennai South Joint I 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 Pallikaranai

The guideline value is a crucial factor in property transactions in Pallikaranai, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value as it affects the overall cost of the transaction. Both parties must consider this value when negotiating the sale price, as the registration office will use the guideline value to assess the applicable fees.

Frequently asked questions

What is the current guideline value of Angel Nagar?

The current guideline value of Angel Nagar is Rs 1,320 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 66 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 1900%.

What are the stamp duty rates for property in Angel Nagar?

The stamp duty for property in Angel Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Angel Nagar?

Angel Nagar is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Angel Nagar?

Angel Nagar is classified as Residential Class IV Type - II, which indicates its use for residential purposes.