Guideline Value for Sri Anandavalli Street

Sri Anandavalli Street guideline value

The current guideline value of Sri Anandavalli Street in Nallur village, under the Redhills SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Anandavalli Street has changed

The guideline value for Sri Anandavalli Street has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in the 2012 revision. However, this figure dropped to Rs 469 per sq.ft in the 2017 revision, marking a decrease of 33%. The value then rose significantly to Rs 700 per sq.ft in the 2023 revision, before reaching the current value of Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 93%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nallur

Nallur village has 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft, with a median value of Rs 550 per sq.ft. Sri Anandavalli Street's 2024 figure is above this median.

• Sharmila Diya Garden: Rs 440 per sq.ft (2024)
• Selva Vinayagar Koil 2nd Cross Street: Rs 770 per sq.ft (2024)
• Selva Vinayagar Koil 1st Cross Street: Rs 770 per sq.ft (2024)
• School Street: Rs 770 per sq.ft (2024)
• Varalakshmi Nagar: Rs 440 per sq.ft (2024)
• P.W.D. Bangalamedu 4th Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Anandavalli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total cost of Rs 69,300. 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 detailed calculations.

Which Sub Registrar Office covers Sri Anandavalli Street?

The Sub Registrar Office covering Sri Anandavalli Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Nallur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

During the registration process, the guideline value is compared with the sale price, and the higher of the two values is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Anandavalli Street?

The current guideline value of Sri Anandavalli Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of 93% over this period.

What are the other streets with similar guideline values in Nallur?

Other streets in Nallur with similar guideline values include Selva Vinayagar Koil 2nd Cross Street, Selva Vinayagar Koil 1st Cross Street, and School Street, all at Rs 770 per sq.ft in 2024.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Sri Anandavalli Street?

Stamp duty for properties in Sri Anandavalli Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at 7%.