Guideline Value for New Andal Nagar

New Andal Nagar guideline value

The current guideline value of New Andal Nagar, located in Santhavellur village under the Sunguvarchattram SRO, is Rs 305 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of New Andal Nagar has changed

The guideline value for New Andal Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 300 per sq.ft in 2023, and it was further revised to Rs 305 per sq.ft in 2024, reflecting a 2% increase from the previous year. The register has no figure for this street in 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 is a modest increase of 2%. The fluctuations in the guideline value illustrate the dynamic nature of property valuations in the region.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,800 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for New Andal Nagar is below this median.

• Mother Therasa Nagar: Rs 305 per sq.ft (2024)
• Moogambika Nagar: Rs 305 per sq.ft (2024)
• Mettu Street: Rs 250 per sq.ft (2024)
• Perumal Kovil Street: Rs 250 per sq.ft (2024)
• Maruthi Avenue: Rs 700 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in New Andal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value amounts to Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would be Rs 6,100, bringing the total cost for these fees to Rs 27,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Andal Nagar?

The Sub Registrar Office that covers New Andal Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Santhavellur. It determines the minimum value at which a property can be registered, ensuring that the transaction is fairly documented. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the sale. 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 New Andal Nagar?

The current guideline value of New Andal Nagar is Rs 305 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the land classification of New Andal Nagar?

New Andal Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in New Andal Nagar?

For a property valued at Rs 3,05,000, the stamp duty would be Rs 21,350 and the registration fee would be Rs 6,100, totaling Rs 27,450. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for New Andal Nagar?

The Sub Registrar Office for New Andal Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.