Guideline Value for Palani Andavar Colony Ist Street

Palani Andavar Colony Ist Street guideline value

The current guideline value of Palani Andavar Colony Ist 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 Ist Street has changed

The guideline value for Palani Andavar Colony Ist Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, the value increased by 173%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it rose by 49%; and from 2023 to 2024, there was a 10% increase. Overall, the guideline value has increased by 200% from 2007 to 2024.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making the current value of Palani Andavar Colony Ist Street below that median.

• Palani Andavar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Palani Andavar Colony: 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 Ist Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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 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 details.

Which Sub Registrar Office covers Palani Andavar Colony Ist Street?

The Sub Registrar Office that covers Palani Andavar Colony Ist 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the property transaction process.

Frequently asked questions

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

The current guideline value of Palani Andavar Colony Ist 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 from Rs 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 200% over this period.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 2,97,000, based on the current guideline value.

Which office handles property registration for this street?

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

What other streets have the same guideline value?

Other streets in Koyakbedu, such as Palani Andavar Colony 2nd Street and New Street, also have a guideline value of Rs 3,300 per sq.ft as of 2024.