Guideline Value for Andal Avenue 2nd Cross Street

Andal Avenue 2nd Cross Street guideline value

The current guideline value of Andal Avenue 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Andal Avenue 2nd Cross Street has changed

The guideline value for Andal Avenue 2nd Cross Street has seen several revisions over the years. In 2002, the value was Rs 343 per sq.ft, which increased to Rs 385 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 1,500 per sq.ft in 2007, reflecting a 290% increase. Following this, the value was revised to Rs 3,500 per sq.ft in 2012, which was a decrease of 33% from the previous figure. In 2017, the guideline value rose to Rs 2,345 per sq.ft, showing a 49% increase. The most recent revision occurred in 2023, with the value set at Rs 3,500 per sq.ft, before the current figure of Rs 3,850 per sq.ft was established in 2024, indicating a 10% increase.

There are no figures available for the years between 2002 and 2007, and likewise, for the years 2012 to 2017, the register has no figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 1022%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value in this area is Rs 4,400 per sq.ft, placing the guideline value of Andal Avenue 2nd Cross Street below this median.

• Andal Avenue 1st Street: Rs 3,850 per sq.ft (2024)
• Andal Avenue 2nd Street: Rs 3,850 per sq.ft (2024)
• Andal Avenue 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Andal Avenue 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Andal Avenue: Rs 4,400 per sq.ft (2024)
• Andal Avenue 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Avenue 2nd Cross 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. It is important to note that the 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 Andal Avenue 2nd Cross Street?

The Sub Registrar Office that covers Andal Avenue 2nd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the assessed value of the property.

When a property is sold, the transaction must be registered at the local Sub Registrar Office, where the guideline value will be used to determine the applicable fees. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Andal Avenue 2nd Cross Street?

The current guideline value of Andal Avenue 2nd Cross 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 from Rs 343 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1022% over this period.

What is the land classification of Andal Avenue 2nd Cross Street?

Andal Avenue 2nd Cross Street is classified as Residential Class II Type - III.

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

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 located for Andal Avenue 2nd Cross Street?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.