Guideline Value for Andal Nagar Extension

Andal Nagar Extension guideline value

The current guideline value of Andal Nagar Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Andal Nagar Extension has changed

The guideline value for Andal Nagar Extension has seen significant changes over the years. In 2002, the value was Rs 248 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a rise of 102%. The value then surged to Rs 1,250 per sq.ft in 2007, reflecting a 150% increase. Following this, the value reached Rs 3,500 per sq.ft in 2012, an increase of 180% from the previous revision. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, which is an increase of 11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,473%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Andal Nagar Extension at this median value.

• Andal Nagar - All streets: Rs 3,900 per sq.ft (2024)
• Amman Koil Street (Vanuvampet): Rs 3,900 per sq.ft (2024)
• Amman Koil Street Lane: Rs 3,900 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 3,900 per sq.ft (2024)
• Amaravathi Street: Rs 3,900 per sq.ft (2024)
• Alikan Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty is calculated at 7%, which comes to Rs 2,73,000, and the registration fee is 2%, amounting to Rs 78,000. Therefore, the total cost for stamp duty and registration fees together is Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Andal Nagar Extension?

The Andal Nagar Extension falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Andal Nagar Extension?

The current guideline value of Andal Nagar Extension is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 248 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1,473% over this period.

What is the land classification for Andal Nagar Extension?

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

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Andal Nagar Extension located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.