Guideline Value for Andal Avenue 3rd Street

Andal Avenue 3rd Street guideline value

The current guideline value of Andal Avenue 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Andal Avenue 3rd Street has changed

The guideline value for Andal Avenue 3rd Street has seen significant changes over the years. In 2002, the value was Rs 325 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a growth of 16%. The value further rose to Rs 700 per sq.ft in 2007, which was a substantial increase of 86%. In 2012, the value was Rs 2,500 per sq.ft, reflecting a remarkable rise of 257% from the previous revision. However, from 2017 to 2023, the value grew from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft, which was a 49% increase. The current value in 2024 is Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

There are no figures available for the revisions in years not listed. The guideline value has increased overall by 731% from 2002 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value in this area is Rs 3,301 per sq.ft, and Andal Avenue 3rd Street's current guideline value is below this median.

• Andal Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Andal Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• Andal Avenue: Rs 2,700 per sq.ft (2024)
• Annai Maniyammai Nagar: Rs 2,700 per sq.ft (2024)
• Annal Gandhi 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Annal Gandhi 1st Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Avenue 3rd 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 be 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 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 information.

Which Sub Registrar Office covers Andal Avenue 3rd Street?

The Sub Registrar Office that covers Andal Avenue 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is fairly assessed according to the established guidelines.

Frequently asked questions

What is the current guideline value of Andal Avenue 3rd Street?

The current guideline value of Andal Avenue 3rd 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 significantly from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 731%.

What are the stamp duty rates for property in this area?

The stamp duty for property in Andal Avenue 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, while Andal Avenue 3rd Street's current value is below this median.