Guideline Value for ANNA M.G.R NAGAR INDIRGANDHI STREET

Anna M.G.R Nagar Indirgandhi Street guideline value

The current guideline value for Anna M.G.R Nagar Indirgandhi Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Anna M.G.R Nagar Indirgandhi Street has changed

The guideline value for Anna M.G.R Nagar Indirgandhi Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease in 2017 to Rs 804 per sq.ft, marking a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 1,320 per sq.ft, representing a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 10% in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for Anna M.G.R Nagar Indirgandhi Street in the register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, positioning Anna M.G.R Nagar Indirgandhi Street below this median.

• Anna M.G.R Nagar Gandhi Street: Rs 1,320 per sq.ft (2024)
• Anna M.G.R Nagar Pari Street: Rs 1,320 per sq.ft (2024)
• Anna M.G.R Nagar Rajugandhi Street: Rs 1,320 per sq.ft (2024)
• Anna Nagar: Rs 1,320 per sq.ft (2024)
• Annai Therasa Street Extn: Rs 1,650 per sq.ft (2024)
• Annai Therasa Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Anna M.G.R Nagar Indirgandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Anna M.G.R Nagar Indirgandhi Street?

The Sub Registrar Office that covers Anna M.G.R Nagar Indirgandhi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal issues. This ensures transparency and fairness in property transactions, protecting the interests of both parties involved.

Frequently asked questions

What is the current guideline value of Anna M.G.R Nagar Indirgandhi Street?

The current guideline value of Anna M.G.R Nagar Indirgandhi Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,320 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for Anna M.G.R Nagar Indirgandhi Street?

Anna M.G.R Nagar Indirgandhi Street is classified as Residential Class IV Type - II according to the land classification records.

What is the registration office for Anna M.G.R Nagar Indirgandhi Street?

The registration office for Anna M.G.R Nagar Indirgandhi Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Anna M.G.R Nagar Indirgandhi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,20,000 would incur a stamp duty of Rs 92,400 at 7%.