Guideline Value for Andal Nagar-Rukmani Devi Nagar

Andal Nagar-Rukmani Devi Nagar guideline value

The current guideline value of Andal Nagar-Rukmani Devi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Andal Nagar-Rukmani Devi Nagar has changed

The guideline value for Andal Nagar-Rukmani Devi Nagar has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. Subsequently, the 2023 revision saw an increase to Rs 1,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,600 per sq.ft.

In terms of percentage changes, the guideline value increased by 7% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam village, there are 1151 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value of Rs 1,600 per sq.ft for Andal Nagar-Rukmani Devi Nagar is below this median.

• Andal Nagar-Vijayalakshmi Street: Rs 1,700 per sq.ft (2024)
• Andal Nagar: Rs 1,600 per sq.ft (2024)
• Anandhapuram: Rs 1,100 per sq.ft (2024)
• Anna 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Anna 1st Street: Rs 1,600 per sq.ft (2024)
• Anna 2nd Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagar-Rukmani Devi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that 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-Rukmani Devi Nagar?

The Sub Registrar Office that covers Andal Nagar-Rukmani Devi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Ensuring that the transaction is in line with the guideline value helps in avoiding any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Andal Nagar-Rukmani Devi Nagar?

The current guideline value of Andal Nagar-Rukmani Devi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase being from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a 7% increase.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Andal Nagar-Rukmani Devi Nagar?

The Selaiyur Sub Registrar Office handles registrations for Andal Nagar-Rukmani Devi Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

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

The guideline value is significant as it determines the minimum value for property registration and is used to calculate the associated stamp duty and registration fees.