Guideline Value for Sri Andal Nagar Part-II

Sri Andal Nagar Part-II guideline value

The current guideline value of Sri Andal Nagar Part-II is Rs 1,100 per sq.ft. This area is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Special Type - IV.

How the guideline value of Sri Andal Nagar Part-II has changed

The guideline value for Sri Andal Nagar Part-II has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,000 per sq.ft, and as of the 2024 revision, it stands at Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, the changes are notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Sri Andal Nagar Part-II's 2024 figure above this median.

• Sri Iyyappa Nagar: Rs 1,100 per sq.ft (2024)
• Sivan Koil Street: Rs 440 per sq.ft (2024)
• Shiridi Sai Nagar/Avenue: Rs 3,300 per sq.ft (2024)
• Sangothiamman Koil Street: Rs 440 per sq.ft (2024)
• Rajiv Gandhi Nagar Third Main Road: Rs 440 per sq.ft (2024)
• Rajiv gandhi 3rd Main Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Andal Nagar Part-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Andal Nagar Part-II?

The Sub Registrar Office that covers Sri Andal Nagar Part-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the buyer and seller must consider the guideline value to ensure compliance with registration norms. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price, ensuring that the government collects the correct amount of duty.

Frequently asked questions

What is the current guideline value of Sri Andal Nagar Part-II?

The current guideline value of Sri Andal Nagar Part-II is Rs 1,100 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Andal Nagar Part-II?

Sri Andal Nagar Part-II is classified as Residential Special Type - IV.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office for Sri Andal Nagar Part-II is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Andal Nagar Part-II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.