Guideline Value for Andal Nagr I Cross Street

Andal Nagr I Cross Street guideline value

The current guideline value of Andal Nagr I Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Andal Nagr I Cross Street has changed

Looking back at the revisions, the guideline value for Andal Nagr I Cross Street was Rs 2,800 per sq.ft in 2023, which increased to Rs 3,100 per sq.ft in 2024, marking an increase of 11%. Prior to that, the value was Rs 1,876 per sq.ft in 2017, reflecting a significant increase of 49% by 2023. The 2012 revision also recorded a figure of Rs 2,800 per sq.ft, which was a decrease of 33% from the 2017 figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, comparing the 2012 figure of Rs 2,800 per sq.ft to the current 2024 figure of Rs 3,100 per sq.ft shows an increase of 11%. This indicates that while there have been fluctuations in the guideline values over the years, the current value aligns with the recent upward trend.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with the median value being Rs 3,100 per sq.ft. The guideline value for Andal Nagr I Cross Street matches this median.

• Andal Nagr II Cross Street: Rs 3,100 per sq.ft (2024)
• Andal Nagr III Cross Street: Rs 3,100 per sq.ft (2024)
• Andavar Nagar 1 to 3 Street: Rs 3,100 per sq.ft (2024)
• Andavar Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Andavar Street / Nagar: Rs 3,100 per sq.ft (2024)
• Aneez Nagar: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Andal Nagr I Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total cost for these charges Rs 2,79,000. 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 details.

Which Sub Registrar Office covers Andal Nagr I Cross Street?

The Sub Registrar Office that covers Andal Nagr I Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ramapuram. When a property is sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding these values helps both parties in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Andal Nagr I Cross Street?

The current guideline value of Andal Nagr I Cross Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2023 to Rs 3,100 per sq.ft in 2024. Previously, it was Rs 1,876 per sq.ft in 2017, and Rs 2,800 per sq.ft in 2012.

What is the land classification for Andal Nagr I Cross Street?

The land classification for Andal Nagr I Cross Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Andal Nagr I Cross Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 31,00,000, the stamp duty at 7% would be Rs 2,17,000.