Guideline Value for Andal Nagr II Cross Street

Andal Nagr II Cross Street guideline value

The current guideline value of Andal Nagr II 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 II Cross Street has changed

The guideline value for Andal Nagr II Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,800 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 3,100 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents an increase of 11%. Overall, the guideline value has increased by 11% from 2012 to 2024.

Guideline values in Ramapuram

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

• Andal Nagr I 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 II 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 comes to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would amount to Rs 62,000. Together, the total cost for stamp duty and registration fee would be 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 the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Andal Nagr II Cross Street?

The Sub Registrar Office that covers Andal Nagr II 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 is a crucial factor in the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms.

When a property is sold, the registration office uses the guideline value to calculate applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, helping to maintain transparency in property transactions.

Frequently asked questions

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

The current guideline value of Andal Nagr II 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 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

Which Sub Registrar Office covers this area?

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

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

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

How is 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, on a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 at 7%.