Guideline Value for Anandanayagi Nagar 1st Street

Anandanayagi Nagar 1st Street guideline value

The current guideline value of Anandanayagi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Anandanayagi Nagar 1st Street has changed

The guideline value for Anandanayagi Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. Following this, the value surged to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 8%. The overall increase from 2007 to 2024 amounts to 160%. The fluctuations in values reflect changes in the local real estate landscape over the years.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Anandanayagi Nagar 1st Street's 2024 figure is below this median.

• Anandanayagi Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Anandanayagi Nagar 3rd Cross Street: Rs 1,300 per sq.ft (2024)
• Anandanayagi Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Anandanayagi Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Anandanayagi Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• Anandanayagi Nagar 6th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Anandanayagi Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Anandanayagi Nagar 1st Street?

The Anandanayagi Nagar 1st Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value impacts the calculation of stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Anandanayagi Nagar 1st Street?

The current guideline value of Anandanayagi Nagar 1st Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 160% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office handles registrations for this area?

The Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021, covers Anandanayagi Nagar 1st Street.

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

The guideline value is used to determine the minimum price for property registration and affects the calculation of stamp duty and registration fees, ensuring transparency in property transactions.