Guideline Value for Ankala Prameshwari Nagar

Ankala Prameshwari Nagar guideline value

The current guideline value of Ankala Prameshwari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this locality is Residential Class II Type - II.

How the guideline value of Ankala Prameshwari Nagar has changed

The guideline value for Ankala Prameshwari Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 3,000 per sq.ft. Prior to that, the 2012 revision also recorded the value at Rs 3,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. This indicates a gradual adjustment in property values over the years, reflecting the current rate of Rs 3,300 per sq.ft.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value range from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Ankala Prameshwari Nagar's 2024 figure below that median. Below are other streets in Valasaravakkam with their respective guideline values:

• Anbu Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Anbu Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Annai Sathya Nagar Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ankala Prameshwari Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 information.

Which Sub Registrar Office covers Ankala Prameshwari Nagar?

The Sub Registrar Office that covers Ankala Prameshwari Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ankala Prameshwari Nagar?

The current guideline value of Ankala Prameshwari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, as the value remained at Rs 3,000 per sq.ft.

What is the land classification for Ankala Prameshwari Nagar?

Ankala Prameshwari Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,97,000 based on the current guideline value.

Where is the Sub Registrar Office for Ankala Prameshwari Nagar located?

The Sub Registrar Office covering Ankala Prameshwari Nagar is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.