Guideline Value for RANI ANNA NAGAR- VALLUVAR NEDUMPATHAI

Rani Anna Nagar- Valluvar Nedumpathai guideline value

The current guideline value for Rani Anna Nagar- Valluvar Nedumpathai is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Rani Anna Nagar- Valluvar Nedumpathai has changed

Over the years, the guideline value for Rani Anna Nagar- Valluvar Nedumpathai has seen significant changes. The earliest recorded revision was in 2007, where the guideline value was Rs 1,250 per sq.ft. This figure increased dramatically to Rs 5,500 per sq.ft in 2012, marking a rise of 340%. However, it then decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 5,500 per sq.ft in 2023, and finally reached Rs 6,000 per sq.ft in 2024, reflecting a 9% increase from the previous year.

The revisions for the years 2002 and 2003 do not have any figures recorded for this street. From 2007 to 2024, the overall increase in guideline value is 380%, showing substantial growth in this period.

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 value for these streets is Rs 6,000 per sq.ft, which is equal to the guideline value for Rani Anna Nagar- Valluvar Nedumpathai.

• Rani Anna Nagar -Thiru VI Ka Square: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Poombukar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Navavalar Street: Rs 5,500 per sq.ft (2024)
• Rani Anna Nagar -Mettu Street: Rs 6,600 per sq.ft (2024)
• Rani Anna Nagar - Main Road: Rs 6,000 per sq.ft (2024)
• Rani Anna Nagar -Kalingar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Anna Nagar- Valluvar Nedumpathai

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, and the registration fee at 2% would be Rs 1,20,000. Together, the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Rani Anna Nagar- Valluvar Nedumpathai?

The Sub Registrar Office that covers Rani Anna Nagar- Valluvar Nedumpathai 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 plays a crucial role when buying or selling property in Arumbakkam. It serves as the minimum value at which a property can be registered, ensuring that the transaction is recorded at a value that reflects the local market conditions. This helps in maintaining transparency in property transactions.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process ensures that the government receives appropriate revenue from property transactions, and it is essential for buyers to be aware of these costs during their purchase.

Frequently asked questions

What is the current guideline value for Rani Anna Nagar- Valluvar Nedumpathai?

The current guideline value for Rani Anna Nagar- Valluvar Nedumpathai is Rs 6,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased 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 is the land classification for this area?

The land classification for Rani Anna Nagar- Valluvar Nedumpathai is Residential Special Type - II.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is 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 higher of the guideline value or the sale price. For instance, for a property valued at Rs 60,00,000, the total stamp duty and registration fees would amount to Rs 5,40,000.