Guideline Value for Sri Andal Nagar 2nd Cross Street

Sri Andal Nagar 2nd Cross Street guideline value

The current guideline value of Sri Andal Nagar 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sri Andal Nagar 2nd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 670 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,000 per sq.ft, and further increased to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,000 per sq.ft. Overall, from 2012 to 2024, the guideline value has seen a 10% increase, now standing at Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sri Andal Nagar 2nd Cross Street is below this median.

• Sri Andal Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Somasundaram Street: Rs 1,320 per sq.ft (2024)
• Sri Jayendrar Street: Rs 1,100 per sq.ft (2024)
• Siththapathy Street: Rs 1,650 per sq.ft (2024)
• Siddhi Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Shaw Wallas Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Andal Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be 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, totaling Rs 99,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Andal Nagar 2nd Cross Street?

The Sub Registrar Office that covers Sri Andal Nagar 2nd Cross Street 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 Chitlapakkam

The guideline value is an essential factor when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the Registration Department. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Andal Nagar 2nd Cross Street?

The current guideline value of Sri Andal Nagar 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

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 finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Sri Andal Nagar 2nd Cross Street?

Sri Andal Nagar 2nd Cross Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Andal Nagar 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the stamp duty and registration fee for a property in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. The duty is charged on the higher of the guideline value or the sale price.