Guideline Value for Antron Street

Antron Street guideline value

The current guideline value of Antron Street in Madipakkam-1 village, under the Velacheri SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Antron Street has changed

The guideline value for Antron Street has undergone several revisions over the years. The register shows that in 2017, the value was Rs 1,005 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for Antron Street in the register.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, indicating that Antron Street's 2024 figure is below the median.

• Antony Street: Rs 1,650 per sq.ft (2024)
• Anran Kuttai: Rs 1,650 per sq.ft (2024)
• Anna Nagar Veeraraghavan Street: Rs 2,750 per sq.ft (2024)
• Anna Nagar Main Road/Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Anna Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Anna Nagar Kanagavalli Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Antron Street

For a property on Antron Street, if you consider a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these charges to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Antron Street?

Antron Street falls under the jurisdiction of the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO online.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in property transactions in Madipakkam-1. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees. It ensures a standardized approach to property valuation, which is essential for legal and financial purposes.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and consistency in real estate transactions within the area.

Frequently asked questions

What is the current guideline value of Antron Street?

The current guideline value of Antron Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the stamp duty and registration fees for properties on Antron Street?

For a 1,000 sq.ft property on Antron Street, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 based on the current guideline value.

Which office handles the registration for Antron Street?

The Velacheri Sub Registrar Office handles the registration for Antron Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value in property transactions?

The guideline value is significant in property transactions as it determines the stamp duty and registration fees, ensuring a standardized approach to property valuation in Madipakkam-1.