Guideline Value for Anbazhagan Nagar 1st Street

Anbazhagan Nagar 1st Street guideline value

The current guideline value of Anbazhagan Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the jurisdiction of the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

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

The guideline value for Anbazhagan Nagar 1st Street has undergone several revisions since 2002. In 2002, the value was Rs 394 per sq.ft, which increased to Rs 800 per sq.ft in 2007. The 2012 revision marked a significant rise to Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value saw a substantial increase to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The register has no figure for this street in 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The jump from 2007 to 2012 was notable at 213%, and from 2002 to 2007, it rose by 103%. Overall, from 2002 to 2024, the guideline value has increased by 585%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Anbazhagan Nagar 1st Street.

• Anbazhagan Nagar 1st Main Street: Rs 2,700 per sq.ft (2024)
• Anbazhagan Nagar 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Anbazhagan Nagar 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Anbazhagan Nagar 2nd Main Street: Rs 2,700 per sq.ft (2024)
• Anbazhagan Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Anbazhagan Nagar 3rd Cross Street: Rs 1,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations based on your property details.

Which Sub Registrar Office covers Anbazhagan Nagar 1st Street?

The Sub Registrar Office that covers Anbazhagan Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Sembiam. It is used to determine the minimum value at which a property can be registered, ensuring that the property is not undervalued during the transaction. This helps in maintaining transparency and fairness in property dealings.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Anbazhagan Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 394 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 585% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles property registrations in Sembiam?

The Sembiam Sub Registrar Office handles property registrations in Sembiam, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Anbazhagan Nagar 1st Street?

Anbazhagan Nagar 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.