Guideline Value for Andal Avenue

Andal Avenue guideline value

The current guideline value of Andal Avenue in Peravallur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Andal Avenue has changed

Over the years, the guideline value of Andal Avenue has seen significant changes. Starting from Rs 325 per sq.ft in 2002, it increased to Rs 376 per sq.ft in 2003, marking a rise of 16%. The value then surged to Rs 700 per sq.ft in 2007, reflecting an 86% increase. By 2012, the value reached Rs 2,500 per sq.ft, which was a substantial increase of 257% from the previous revision. However, it dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 2,500 per sq.ft in 2023, and finally, it stands at Rs 2,700 per sq.ft in 2024, showing an 8% increase from the previous year.

In total, from 2002 to 2024, the guideline value has increased by 731%. There are no figures available for the revisions in years other than those listed above for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, making the guideline value of Andal Avenue below the median.

• Andal Avenue 1st Street: Rs 2,700 per sq.ft (2024)
• Andal Avenue 2nd Street: Rs 2,700 per sq.ft (2024)
• Andal Avenue 3rd Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 costs together to Rs 2,43,000. It is important to note that 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 Andal Avenue?

The Sub Registrar Office that covers Andal Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Peravallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers should be aware that the guideline value is often used as a reference point for the transaction value.

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

Frequently asked questions

What is the current guideline value of Andal Avenue?

The current guideline value of Andal Avenue 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, starting from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 731% over the years.

What is the land classification for Andal Avenue?

Andal Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Sembiam Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Andal Avenue?

Stamp duty for properties in Andal Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 27,00,000.