Guideline Value for Andal Nagar Extn 2nd Street Lane 3

Andal Nagar Extn 2nd Street Lane 3 guideline value

The current guideline value for Andal Nagar Extn 2nd Street Lane 3 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street 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 Extn 2nd Street Lane 3 has changed

The guideline value for Andal Nagar Extn 2nd Street Lane 3 has seen several revisions over the years. The oldest recorded revision is from 2007, with a guideline value of Rs 1,500 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, marking a significant rise of 167%. However, the value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value surged to Rs 4,000 per sq.ft, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%.

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 value is Rs 4,400 per sq.ft, which is the same as the guideline value for Andal Nagar Extn 2nd Street Lane 3.

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

Stamp duty and registration fee for property in Andal Nagar Extn 2nd Street Lane 3

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, and the registration fee at 2% would be Rs 88,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Andal Nagar Extn 2nd Street Lane 3?

The Sub Registrar Office that covers Andal Nagar Extn 2nd Street Lane 3 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public registry.

When a property is sold, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Andal Nagar Extn 2nd Street Lane 3?

The current guideline value for Andal Nagar Extn 2nd Street Lane 3 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 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

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

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.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Andal Nagar Extn 2nd Street Lane 3, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for this street?

The land classification for Andal Nagar Extn 2nd Street Lane 3 is Residential Class II Type - II.