Guideline Value for RANI ANNA NAGAR -KALINGAR STREET

Rani Anna Nagar -Kalingar Street guideline value

The current guideline value of Rani Anna Nagar -Kalingar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

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

The guideline value for Rani Anna Nagar -Kalingar Street has seen several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 355% increase. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The revisions for the years 2002 and 2003 do not have figures available for this 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, with a median value of Rs 6,000 per sq.ft. The guideline value of Rani Anna Nagar -Kalingar Street is below this median.

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

Stamp duty and registration fee for property in Rani Anna Nagar -Kalingar 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 is calculated at 7%, resulting in Rs 3,85,000, while the registration fee at 2% amounts to Rs 1,10,000. Therefore, the total cost for stamp duty and registration fee together is Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers Rani Anna Nagar -Kalingar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property based on prevailing market conditions. It is important for buyers to be aware of this value to avoid overpaying for a property.

Frequently asked questions

What is the current guideline value of Rani Anna Nagar -Kalingar Street?

The current guideline value of Rani Anna Nagar -Kalingar 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 significantly from Rs 1,100 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 400% over the years.

What is the land classification of Rani Anna Nagar -Kalingar Street?

Rani Anna Nagar -Kalingar Street is classified as Residential Special Type - III under the Kodambakkam SRO.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 55,00,000, the total fees amount to Rs 4,95,000.

Which office handles property registration for Rani Anna Nagar -Kalingar Street?

The Kodambakkam Sub Registrar Office handles property registration for Rani Anna Nagar -Kalingar Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.