Guideline Value for Anderson Road

Anderson Road guideline value

The current guideline value of Anderson Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Anderson Road has changed

The guideline value for Anderson Road has seen several revisions over the years. In 2007, the guideline value was Rs 5,070 per sq.ft. This increased significantly to Rs 12,000 per sq.ft in 2012, marking a rise of 137%. However, it then decreased to Rs 8,040 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 12,000 per sq.ft in 2023, reflecting a 49% rise, and finally reached Rs 13,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 160%. The changes in the guideline value indicate fluctuations over the years, influenced by various factors.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a guideline value for 2024 ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means Anderson Road's 2024 figure is above this median.

• Amberdkar Colony(Slum): Rs 3,300 per sq.ft (2024)
• Annasalai: Rs 20,900 per sq.ft (2024)
• Appu Naicken St: Rs 6,600 per sq.ft (2024)
• Arundathi Nagar: Rs 3,300 per sq.ft (2024)
• Avenue Road: Rs 11,500 per sq.ft (2024)
• Ayya Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Anderson Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty, charged at 7%, would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total fees to Rs 11,88,000. 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 more details.

Which Sub Registrar Office covers Anderson Road?

The Sub Registrar Office that covers Anderson Road is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Anderson Road?

The current guideline value of Anderson Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,070 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, showing an overall increase of 160%.

What is the land classification for Anderson Road?

Anderson Road is classified as Commercial Special Type - III under the Chennai Central Joint II SRO.

What are the stamp duty rates applicable for Anderson Road?

The stamp duty for properties in Anderson Road is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Anderson Road located?

The Sub Registrar Office for Anderson Road is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.