Guideline Value for Addison Nagar Annex

Addison Nagar Annex guideline value

The current guideline value of Addison Nagar Annex is Rs 1,750 per sq.ft, effective from 1 July 2024. This area is located in Mangadu-B village under the Kunrathur SRO, classified as Residential Class I Type - III.

How the guideline value of Addison Nagar Annex has changed

The guideline value for Addison Nagar Annex has seen several revisions over the years. The 2017 revision set the value at Rs 938 per sq.ft, which was then increased to Rs 1,400 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 1,750 per sq.ft, reflecting a 25% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 87%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu-B

In Mangadu-B village, there are 70 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,430 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Addison Nagar Annex's 2024 value below this median.

• Addison Nagar: Rs 1,750 per sq.ft (2024)
• Charles Nagar: Rs 1,750 per sq.ft (2024)
• Jeeva Nagar: Rs 1,550 per sq.ft (2024)
• Kalaimagal Nagar: Rs 2,000 per sq.ft (2024)
• O.A.Royal Nagar: Rs 3,960 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Addison Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,750 per sq.ft, the total guideline value amounts to Rs 17,50,000. The stamp duty at 7% would be Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, totaling Rs 1,57,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Addison Nagar Annex?

The Addison Nagar Annex falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu-B

The guideline value is a crucial factor during property registration in Mangadu-B. It determines the amount of stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property, the guideline value serves as a benchmark to assess the value of the property being transacted. This ensures transparency and compliance with local regulations in the real estate market.

Frequently asked questions

What is the current guideline value of Addison Nagar Annex?

The current guideline value of Addison Nagar Annex is Rs 1,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 938 per sq.ft to Rs 1,750 per sq.ft in 2024, marking an overall increase of 87%.

What is the median guideline value for streets in Mangadu-B?

The median guideline value for streets in Mangadu-B is Rs 1,980 per sq.ft, with Addison Nagar Annex's value being below this median.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Addison Nagar Annex?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 17,50,000, the stamp duty would be Rs 1,22,500.