Guideline Value for Addison Nagar

Addison Nagar guideline value

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

How the guideline value of Addison Nagar has changed

The guideline value for Addison Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 1,750 per sq.ft, marking a 25% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 87%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. This lack of data highlights the significant changes that have occurred in the guideline values over the years, particularly in the recent revisions.

Guideline values in Mangadu-B

In Mangadu-B, there are 70 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,430 to Rs 4,300 per sq.ft, with a median value of Rs 1,980 per sq.ft. Addison Nagar's 2024 guideline value is below this median.

• Addison Nagar Annex: 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

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

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Addison Nagar?

The Sub Registrar Office that covers Addison Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for property transactions in Mangadu-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Addison Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and now to Rs 1,750 per sq.ft in 2024, reflecting an overall increase of 87% from 2017 to 2024.

What is the land classification of Addison Nagar?

Addison Nagar is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the registration office for Addison Nagar?

The registration office for Addison Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

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