Guideline Value for Andal Nagar Extn Street

Andal Nagar Extn Street guideline value

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

How the guideline value of Andal Nagar Extn Street has changed

The guideline value for Andal Nagar Extn Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, the value then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and subsequently increased by 10% to the current rate of Rs 4,400 per sq.ft in 2024.

Between 2017 and 2023, the value saw a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

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 equal to the current guideline value of Andal Nagar Extn Street.

• Andal Nagar Extn. Main Road: Rs 4,400 per sq.ft (2024)
• Andal Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn II: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn 6th Cross Street: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn 5th Cross Street: Rs 4,400 per sq.ft (2024)
• Andal Nagar Extn 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar Extn Street

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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Andal Nagar Extn Street?

The Sub Registrar Office that covers Andal Nagar Extn Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more information, you can find your SRO.

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 at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Andal Nagar Extn Street?

The current guideline value of Andal Nagar Extn Street 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 seen several revisions, increasing from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 193%.

What is the role of the Velacheri SRO?

The Velacheri SRO is responsible for registering property transactions in the Velachery area and maintaining the guideline value register for various streets, including Andal Nagar Extn Street.

How is stamp duty calculated for properties in Andal Nagar Extn Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at the rate of 7%.

Where can I find more information about guideline values?

More information about guideline values can be found in the Registration Department's guideline value register (TNReginet), which provides detailed figures for various streets in Tamil Nadu.