Guideline Value for New Street

New Street guideline value

The current guideline value of New Street in Ayanavaram village, under the AnnaNagar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Street has changed

The guideline value for New Street has seen significant changes over the years. In 2002, the guideline value was Rs 892 per sq.ft. This increased to Rs 1,001 per sq.ft in 2003, marking a 12% rise. The value then rose to Rs 1,200 per sq.ft in 2007, which was a 20% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, reflecting a substantial 233% increase. However, it dropped to Rs 2,680 per sq.ft in 2017, which was a 33% decrease. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a 10% rise to the current rate of Rs 4,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 393%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the current value of New Street below this median.

• New Street 2nd Lane: Rs 4,400 per sq.ft (2024)
• New Street 3rd Lane: Rs 4,400 per sq.ft (2024)
• New Street 4th Lane: Rs 4,400 per sq.ft (2024)
• New Street Ist Lane: Rs 4,400 per sq.ft (2024)
• New Mandapam Road: Rs 4,400 per sq.ft (2024)
• New Colony (V.O.C.)Ist Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers New Street?

The Sub Registrar Office that covers New Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as assessed by the local authorities. Buyers and sellers should be aware of this value to accurately calculate their costs during the transaction process.

Frequently asked questions

What is the current guideline value of New Street?

The current guideline value of New Street in Ayanavaram is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 892 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 393% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for New Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, is responsible for New Street.

What is the land classification for New Street?

The land classification for New Street is Residential Class II Type - I, indicating its designation for residential use within the area.