Guideline Value for RANI ANNA NAGAR- MAIN ROAD

Rani Anna Nagar- Main Road guideline value

The current guideline value of Rani Anna Nagar- Main Road is Rs 6,000 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 - II.

How the guideline value of Rani Anna Nagar- Main Road has changed

Over the years, the guideline value for Rani Anna Nagar- Main Road has undergone several revisions. The earliest recorded revision was in 2007, where the value was Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 340% rise. However, the value saw a decrease to Rs 3,685 per sq.ft in 2017, which was a 33% drop. By 2023, the value had risen again to Rs 5,500 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, a 9% increase from the previous year.

The register for the years 2002 and 2003 does not contain figures for this street. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which is equal to the guideline value of Rani Anna Nagar- Main Road.

• Rani Anna Nagar -Kalingar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Mettu Street: Rs 6,600 per sq.ft (2024)
• Rani Anna Nagar -E.V.R. Periyar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Navavalar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Poombukar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Cheran Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Anna Nagar- Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, while the registration fee at 2% would be Rs 1,20,000. Together, the total cost for stamp duty and registration would be Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Rani Anna Nagar- Main Road?

The Sub Registrar Office that covers Rani Anna Nagar- Main Road 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 details.

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

The guideline value is a crucial aspect when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, thereby helping to maintain transparency in the real estate market. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Rani Anna Nagar- Main Road?

The current guideline value of Rani Anna Nagar- Main Road is Rs 6,000 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 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 380%.

What are the stamp duty and registration fees for property in Rani Anna Nagar- Main Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,40,000.

Which office handles property registrations in Rani Anna Nagar- Main Road?

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

What is the land classification of Rani Anna Nagar- Main Road?

The land classification for Rani Anna Nagar- Main Road is Residential Special Type - II, indicating its suitability for residential development.