Guideline Value for Andal Nagar 2nd Street

Andal Nagar 2nd Street guideline value

The current guideline value of Andal Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Andal Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The change from 2017 to 2023 was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with the median being Rs 2,200 per sq.ft. The guideline value of Andal Nagar 2nd Street matches this median.

• Andal Nagar Road: Rs 2,200 per sq.ft (2024)
• Annai Avenue 1st Street: Rs 1,900 per sq.ft (2024)
• Annai Avenue 2nd Street: Rs 1,900 per sq.ft (2024)
• Annai Avenue 3rd Street: Rs 1,900 per sq.ft (2024)
• Ambika Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Ambika Nagar 4th Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Andal Nagar 2nd Street?

The Sub Registrar Office that covers Andal Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is crucial when buying or selling property in Selavoyal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for any property transaction.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Andal Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Andal Nagar 2nd Street?

Andal Nagar 2nd Street is classified as Residential Class II Type - I.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Andal Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles property registrations for Andal Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.