Guideline Value for Andal Nagar Extension-I

Andal Nagar Extension-I guideline value

The current guideline value of Andal Nagar Extension-I is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Andal Nagar Extension-I has changed

The guideline value for Andal Nagar Extension-I has undergone several revisions over the years. In 2012, the value was set at Rs 4,000 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 2,680 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 4,000 per sq.ft. The most recent revision in 2024 raised the value by 10% to Rs 4,400 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are a total of 2,691 streets under the Velacheri SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current value for Andal Nagar Extension-I.

• Andal Nagar Extension 4th Cross Street: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extension 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extension 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn. 1st Main road: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extension 1st Layout: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar Extension-I

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, resulting in a total of Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andal Nagar Extension-I?

The Sub Registrar Office that covers Andal Nagar Extension-I 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 factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property and is used to calculate the stamp duty and registration fees payable during the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the prevailing market conditions. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Andal Nagar Extension-I?

The current guideline value of Andal Nagar Extension-I 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 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Andal Nagar Extension-I?

Andal Nagar Extension-I is classified as Residential Class II Type - II.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where can I find the Sub Registrar Office for Andal Nagar Extension-I?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.