Guideline Value for RANI ANNA NAGAR -CHERAN STREET

Rani Anna Nagar -Cheran Street guideline value

The current guideline value for Rani Anna Nagar -Cheran Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Rani Anna Nagar -Cheran Street has changed

Over the years, the guideline value of Rani Anna Nagar -Cheran Street has seen several revisions. The earliest recorded figure was Rs 1,100 per sq.ft in 2007. This value increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 355%. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023 and further increased to the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

The overall change from 2007 to 2024 indicates a remarkable increase of 400%. From 2017 to 2023, the value jumped by 49%, demonstrating a significant upward trajectory in the recent years. This history of revisions showcases the fluctuations in the guideline value for Rani Anna Nagar -Cheran Street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Rani Anna Nagar -Cheran Street's 2024 figure below this median.

• Rani Anna Nagar -Bharathidasan Street: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Anjugam Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -E.V.R. Periyar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Kalingar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Main Road: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Mettu Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Anna Nagar -Cheran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty charged at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Rani Anna Nagar -Cheran Street?

The Rani Anna Nagar -Cheran Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Arumbakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value for Rani Anna Nagar -Cheran Street?

The current guideline value for Rani Anna Nagar -Cheran Street is Rs 5,500 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 5,500 per sq.ft in 2024, showing an overall increase of 400% over the years.

What is the land classification for Rani Anna Nagar -Cheran Street?

The land classification for Rani Anna Nagar -Cheran Street is Residential Special Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Rani Anna Nagar -Cheran Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 55,00,000, leading to specific fees that total Rs 4,95,000.