Guideline Value for Andavar Street

Andavar Street guideline value

The current guideline value of Andavar Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Andavar Street has changed

The guideline value for Andavar Street has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a remarkable rise of 700%. However, from 2012 to 2017, the value decreased by 33% to Rs 1,340 per sq.ft. The next revision in 2023 brought the value up to Rs 2,000 per sq.ft, and then it increased by 8% to reach the current value of Rs 2,160 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 764%. The register has no figures for the revisions in 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median value being Rs 2,160 per sq.ft. Andavar Street's 2024 guideline value is equal to this median.

• Angala Parameswari Street: Rs 2,160 per sq.ft (2024)
• Annai Therasa Street: Rs 2,160 per sq.ft (2024)
• Annamalai Street: Rs 2,420 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,160 per sq.ft (2024)
• Amaravathi Street: Rs 1,100 per sq.ft (2024)
• Alamaram Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Andavar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value is Rs 21,60,000. The stamp duty at 7% amounts to Rs 1,51,200, and the registration fee at 2% amounts to Rs 43,200, bringing the total cost for these fees to Rs 1,94,400. 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 details.

Which Sub Registrar Office covers Andavar Street?

The Sub Registrar Office that covers Andavar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Andavar Street?

The current guideline value of Andavar Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, marking an overall increase of 764% over the years.

What are the stamp duty and registration fees for property in Andavar Street?

For a property valued at Rs 21,60,000, the stamp duty is Rs 1,51,200 and the registration fee is Rs 43,200, totaling Rs 1,94,400.

Which office handles property registrations for Andavar Street?

The Pallavaram Sub Registrar Office handles property registrations for Andavar Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Andavar Street?

Andavar Street is classified as Residential Class II Type - I, indicating its designation for residential purposes within the area.