Guideline Value for Palani Andavar Colony 2nd Street

Palani Andavar Colony 2nd Street guideline value

The current guideline value of Palani Andavar Colony 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Palani Andavar Colony 2nd Street has changed

Over the years, the guideline value for Palani Andavar Colony 2nd Street has seen several revisions. In 2007, the value was Rs 1,100 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 173%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 3,000 per sq.ft, followed by the latest revision in 2024, which increased it to Rs 3,300 per sq.ft, representing a 10% rise.

The overall change from 2007 to 2024 reflects a substantial increase of 200%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing the 2024 guideline value of Palani Andavar Colony 2nd Street below this median.

• Palani Andavar Colony: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony Ist Street: Rs 3,300 per sq.ft (2024)
• Parijatham Street Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Parthasarathy Street: Rs 3,300 per sq.ft (2024)
• North Mada Street (Kurungaleeswarar Koil): Rs 3,800 per sq.ft (2024)
• New Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Andavar Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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 together 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.

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

Which Sub Registrar Office covers Palani Andavar Colony 2nd Street?

The Sub Registrar Office that covers Palani Andavar Colony 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Koyakbedu. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is considered to assess the applicable duties. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established rates for the area.

Frequently asked questions

What is the current guideline value of Palani Andavar Colony 2nd Street?

The current guideline value of Palani Andavar Colony 2nd Street 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 significantly from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 200% over the years.

What is the registration office for this area?

The registration office for Palani Andavar Colony 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets with the same guideline value in Koyakbedu?

Yes, other streets in Koyakbedu, such as Palani Andavar Colony and Palani Andavar Colony Ist Street, also have a guideline value of Rs 3,300 per sq.ft in 2024.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.