Guideline Value

Corporate

Guideline Value for Andal Nagar 1st Street

₹4400/sq.ft.

The guideline value for Andal Nagar 1st Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2200 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹350 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹312 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Andal Nagar 1st Street

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Andal Nagar 1st Street guideline value

The current guideline value of Andal Nagar 1st Street is Rs 4,400 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 - II.

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

The guideline value for Andal Nagar 1st Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2003, marking a 12% rise. Following this, the value surged significantly to Rs 2,200 per sq.ft in 2007, which was a 529% increase. The trend continued as the value reached Rs 4,000 per sq.ft in 2012, reflecting an 82% increase from the previous revision. However, it then dropped to Rs 2,680 per sq.ft in 2017, indicating a decrease of 33%.

From 2017 to 2023, the guideline value rose sharply to Rs 4,000 per sq.ft, a notable increase of 49%. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1310%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Andal Nagar 1st Street.

Stamp duty and registration fee for property in Andal Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Andal Nagar 1st Street?

The Sub Registrar Office that covers Andal Nagar 1st 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 reference point when buying or selling property in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware that the guideline value is often used to assess the minimum value of a property for these purposes.

When a property is sold, the sale price or the guideline value, whichever is higher, will be the basis for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Andal Nagar 1st Street is Rs 4,400 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 312 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1310% over the years.

What is the registration fee for properties in Andal Nagar 1st Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 44,00,000, the registration fee would be Rs 88,000.

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

The Sub Registrar Office for Andal Nagar 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for property transactions?

Stamp duty is charged at 7% of the higher value between the guideline value and the sale price. This ensures that the appropriate amount is collected based on the property's value during the transaction.