Guideline Value

Corporate

Guideline Value for Andal Nagar 2nd Layout

₹4400/sq.ft.

The guideline value for Andal Nagar 2nd Layout 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 ₹314 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹280 /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 2nd Layout

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Andal Nagar 2nd Layout guideline value

The current guideline value of Andal Nagar 2nd Layout is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO, with a land classification of Residential Class II Type - II.

How the guideline value of Andal Nagar 2nd Layout has changed

The guideline value of Andal Nagar 2nd Layout has seen several revisions over the years. The earliest recorded guideline value was Rs 280 per sq.ft in 2002, which increased to Rs 314 per sq.ft in 2003. Following this, there was a significant rise to Rs 2,200 per sq.ft in 2007, and then it reached Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 4,400 per sq.ft.

Examining the changes between these revisions, we see a +12% increase from 2002 to 2003, followed by a +601% increase from 2003 to 2007. The value then rose by +82% from 2007 to 2012, followed by a -33% decrease from 2012 to 2017. A substantial +49% increase occurred 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 +1471%.

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 guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value for Andal Nagar 2nd Layout.

Stamp duty and registration fee for property in Andal Nagar 2nd Layout

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

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Andal Nagar 2nd Layout?

The Sub Registrar Office that covers Andal Nagar 2nd Layout 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 further assistance.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Velachery. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the value of the property as determined by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value for Andal Nagar 2nd Layout?

The current guideline value for Andal Nagar 2nd Layout 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 from Rs 280 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of +1471% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property at Rs 4,400 per sq.ft would incur a total of Rs 3,96,000 in fees.

Which office handles the registration of properties in Andal Nagar 2nd Layout?

The Velacheri Sub Registrar Office handles the registration of properties in Andal Nagar 2nd Layout, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the property is valued accurately for official records and transactions.