Guideline Value for Palani Andavar Koil 2nd Lane

Palani Andavar Koil 2nd Lane guideline value

The current guideline value of Palani Andavar Koil 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Palani Andavar Koil 2nd Lane has changed

The guideline value for Palani Andavar Koil 2nd Lane has undergone several revisions over the years. In 2002, the value was Rs 449 per sq.ft, which increased to Rs 504 per sq.ft in 2003. The value saw a significant rise to Rs 1,200 per sq.ft in 2007, followed by a further increase to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then rose again to Rs 4,500 per sq.ft in 2023, before reaching the current rate of Rs 4,900 per sq.ft in 2024.

In terms of percentage changes, the value increased by 12% from 2002 to 2003, followed by a 138% increase from 2003 to 2007. The value surged by 275% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, and finally, there was a 9% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 991%.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with the 2024 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, which matches the current value for Palani Andavar Koil 2nd Lane.

• Palani Andavar Koil Ist Lane: Rs 4,900 per sq.ft (2024)
• Palani Andavar Koil Street: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty 2nd Lane: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty Ist Street: Rs 4,900 per sq.ft (2024)
• Palaniappa Chetty Street: Rs 4,900 per sq.ft (2024)
• palavoyal Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Palani Andavar Koil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Palani Andavar Koil 2nd Lane?

The Sub Registrar Office that covers Palani Andavar Koil 2nd Lane 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 serves as a reference point for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential costs associated with property transactions. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Palani Andavar Koil 2nd Lane?

The current guideline value of Palani Andavar Koil 2nd Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 449 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Palani Andavar Koil 2nd Lane?

Palani Andavar Koil 2nd Lane is classified as Residential Class I Type - III.

Where can I find the registration office for this area?

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

How is the stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically set at 7% of the guideline value, along with a registration fee of 2%.