Guideline Value for Andavar Street, Balaiah Garden

Andavar Street, Balaiah Garden guideline value

The current guideline value of Andavar Street, Balaiah Garden is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Andavar Street, Balaiah Garden has changed

The guideline value for Andavar Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision, where the value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Andavar Street's 2024 figure above this median.

• Andavar Street: Rs 2,200 per sq.ft (2024)
• Andavar Street / Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• Andal Street, Balaiah Garden: Rs 3,850 per sq.ft (2024)
• Andal Nagar Extn: Rs 2,200 per sq.ft (2024)
• Andal Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Andal Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Andavar Street, Balaiah Garden

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Andavar Street, Balaiah Garden?

The Sub Registrar Office that covers Andavar Street, Balaiah Garden 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 Madipakkam-1

The guideline value is a crucial factor in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This transparency helps facilitate smoother property dealings in the region.

Frequently asked questions

What is the current guideline value of Andavar Street, Balaiah Garden?

The current guideline value of Andavar Street, Balaiah Garden is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the registration office for Andavar Street?

The registration office covering Andavar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the stamp duty rates applicable in Madipakkam-1?

The stamp duty rate applicable in Madipakkam-1 is 7% of the guideline value or sale price, whichever is higher.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Andavar Street's 2024 figure being above this median.