Guideline Value for SHRI ANDAL NAGAR ANNEX

Shri Andal Nagar Annex guideline value

The current guideline value of Shri Andal Nagar Annex is Rs 1,660 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Shri Andal Nagar Annex has changed

The guideline value for Shri Andal Nagar Annex has seen several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 216 per sq.ft in 2003. Following this, the value surged significantly to Rs 800 per sq.ft in 2007, reflecting a change of +270%. The value then rose to Rs 1,500 per sq.ft in 2012, marking an increase of +88%. However, it decreased to Rs 1,005 per sq.ft in 2017, which was a drop of -33%. The guideline value then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,660 per sq.ft in 2024, representing an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +783%. There are no figures available for the revisions in years other than those mentioned.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value of Shri Andal Nagar Annex.

• Shri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Shri Ganapathy Nagar Annex & Shri Ganapathy Nagar: Rs 1,100 per sq.ft (2024)
• Shri Kamatchiamman Nagar: Rs 1,320 per sq.ft (2024)
• Shri Lalitha Nagar: Rs 1,320 per sq.ft (2024)
• Shri Ramasamy Nagar: Rs 1,320 per sq.ft (2024)
• Shameer Sulthan Inam Maniyam Land: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Shri Andal Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value amounts to Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total to Rs 1,49,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Shri Andal Nagar Annex?

The Shri Andal Nagar Annex falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Shri Andal Nagar Annex?

The current guideline value of Shri Andal Nagar Annex is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of +783% over the years.

What is the land classification for Shri Andal Nagar Annex?

Shri Andal Nagar Annex is classified as Residential Class III Type - I.

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

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200 and the registration fee would be Rs 33,200, totaling Rs 1,49,400.

Which office handles registrations for Shri Andal Nagar Annex?

The Chennai South Joint I Sub Registrar Office handles registrations for Shri Andal Nagar Annex, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.