Guideline Value for Tagore Nagar main Road

Tagore Nagar main Road guideline value

The current guideline value of Tagore Nagar main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Tagore Nagar main Road has changed

The guideline value for Tagore Nagar main Road has seen several revisions over the years. The earliest recorded value in the register is from 2002, when it was Rs 398 per sq.ft. This increased to Rs 447 per sq.ft in 2003, marking a rise of 12%. The value then significantly jumped to Rs 1,000 per sq.ft in 2007, a change of 124%. In 2012, the value was Rs 3,000 per sq.ft, reflecting a 200% increase from the previous figure. However, this dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for revisions in years not listed in the register. The overall change from 2002 to 2024 shows an increase of 729%, highlighting the significant growth in the guideline value over the years.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing the 2024 figure for Tagore Nagar main Road below that median.

• Tagore Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• Tagore Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Tagore Nagar 3rd Street: 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 main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 information on fees applicable to your property.

Which Sub Registrar Office covers Tagore Nagar main Road?

The Sub Registrar Office that covers Tagore Nagar main Road 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 details.

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

The guideline value is a crucial factor when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value will be used to calculate the applicable stamp duty and registration fees. It is essential for both parties to be aware of this value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Tagore Nagar main Road?

The current guideline value of Tagore Nagar main Road 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 increased from Rs 398 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 729% over the years.

What is the land classification for Tagore Nagar main Road?

The land classification for Tagore Nagar main Road is Residential Class II Type - II.

What are the stamp duty and registration fees for properties in Tagore Nagar main Road?

For a 1,000 sq.ft plot, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000 based on the current guideline value.

Which office handles registrations for Tagore Nagar main Road?

The AnnaNagar Sub Registrar Office handles registrations for Tagore Nagar main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.