Guideline Value

Corporate

Guideline Value for Andal Nagar Extn

₹4400/sq.ft.

The guideline value for Andal Nagar Extn in Velachery village (Velacheri SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Andal Nagar Extn

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Andal Nagar Extn guideline value

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

How the guideline value of Andal Nagar Extn has changed

The guideline value for Andal Nagar Extn has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 167% rise. However, it dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and finally, it stands at Rs 4,400 per sq.ft in 2024, showing a 10% increase from the previous year.

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

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with 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 matches the guideline value of Andal Nagar Extn.

Stamp duty and registration fee for property in Andal Nagar Extn

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value totals Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, while the registration fee at 2% is Rs 88,000. Together, the total cost for these fees is 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Andal Nagar Extn?

The Sub Registrar Office covering Andal Nagar Extn 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 critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the authorities will use the guideline value to calculate the necessary fees, ensuring that the transaction is compliant with local regulations. This value is essential for both buyers and sellers to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Andal Nagar Extn?

The current guideline value of Andal Nagar Extn 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, showing an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in Andal Nagar Extn?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.

Which office handles property registrations in Andal Nagar Extn?

The Velacheri Sub Registrar Office handles property registrations for Andal Nagar Extn, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark for assessing the financial obligations of buyers and sellers during the registration process.