Guideline Value for Anbu Nagar 1st Street

Anbu Nagar 1st Street guideline value

The current guideline value of Anbu Nagar 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II 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. Starting from the 2002 revision, the guideline value was Rs 233 per sq.ft. It increased to Rs 254 per sq.ft in 2003, followed by a significant rise to Rs 400 per sq.ft in 2007. The value then saw a substantial jump to Rs 3,500 per sq.ft in 2012, before dropping to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2003, the guideline value increased by 9%. The jump from 2003 to 2007 was 57%, and the rise from 2007 to 2012 was a remarkable 775%. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1552%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current guideline value for Anbu Nagar 1st Street.

• Anbu Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Ankala Prameshwari Nagar: Rs 3,300 per sq.ft (2024)
• Annai Sathya Nagar Main Road: Rs 3,300 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500 for the transaction. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Anbu Nagar 1st Street?

The Sub Registrar Office that covers Anbu Nagar 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value ensures that the government receives the appropriate revenue from property transactions. It is crucial for both parties involved in the sale to be aware of the guideline value to avoid any discrepancies during the registration 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 233 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1552% over this period.

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

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

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Anbu Nagar 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Anbu Nagar 1st Street.