Guideline Value for Anderson Street

Anderson Street guideline value

The current guideline value of Anderson Street, located in Erukancherry village under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class V Type - I land classification.

How the guideline value of Anderson Street has changed

The guideline value for Anderson Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. Following this, the 2023 revision saw a significant increase to Rs 1,800 per sq.ft, and the current 2024 revision has raised it further to Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the current 2024 revision, there has been a slight increase of 6%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Anderson Street's 2024 figure of Rs 1,900 per sq.ft is below this median.

• Annai Besant Street: Rs 2,200 per sq.ft (2024)
• Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Ambedkar Street (Erukkancherry): Rs 2,200 per sq.ft (2024)
• Ambedkar Street: Rs 2,200 per sq.ft (2024)
• Anna Main Salai: Rs 2,500 per sq.ft (2024)
• Ambedkar 3rd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Anderson Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the 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 Anderson Street?

The Sub Registrar Office that covers Anderson Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Anderson Street?

The current guideline value of Anderson Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Anderson Street?

Anderson Street is classified as Residential Class V Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers Anderson Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, covers Anderson Street.