Guideline Value for Anbu Nagar 1st Street

Anbu Nagar 1st Street guideline value

The current guideline value of Anbu Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

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

The guideline value for Anbu Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by another increase to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% rise.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Anbu Nagar 1st Street.

• Anbu Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Anbu Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar Extension: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Anbu 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 at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anbu Nagar 1st Street?

The Sub Registrar Office that covers Anbu Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally. This ensures that all parties are aware of the costs involved in the property transfer process.

Frequently asked questions

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

The current guideline value of Anbu 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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification of Anbu Nagar 1st Street?

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

What are the stamp duty and registration fees for property in Anbu Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

Which office handles property registrations for Anbu Nagar 1st Street?

The Madhavaram Sub Registrar Office handles property registrations for Anbu Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.