Guideline Value for Tagore Nagar 2nd Street

Tagore Nagar 2nd Street guideline value

The current guideline value of Tagore Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of Tagore Nagar 2nd Street has changed

The guideline value for Tagore Nagar 2nd Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, between 2012 and 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and with the latest revision in 2024, it has reached Rs 3,300 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value is Rs 4,900 per sq.ft, positioning Tagore Nagar 2nd Street's 2024 figure below this median.

• Tagore Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Tagore Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• Tagore Nagar main Road: Rs 3,300 per sq.ft (2024)
• Swaran Singh Street: Rs 4,900 per sq.ft (2024)
• T.B. Hospital: Rs 3,300 per sq.ft (2024)
• Thalamuthu Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Tagore Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that 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 Tagore Nagar 2nd Street?

The Sub Registrar Office that covers Tagore Nagar 2nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of properties in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Tagore Nagar 2nd Street?

The current guideline value of Tagore Nagar 2nd Street is Rs 3,300 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 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the land classification for Tagore Nagar 2nd Street?

Tagore Nagar 2nd Street is classified as Residential Class II Type - II.

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

Other streets in Ayanavaram with a guideline value of Rs 3,300 per sq.ft include Tagore Nagar 3rd Street, Tagore Nagar Ist Street, Tagore Nagar main Road, T.B. Hospital, and Thalamuthu Street.

How is stamp duty calculated for properties in Tagore Nagar 2nd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.