Guideline Value for ANNA NAGAR

Anna Nagar guideline value

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

How the guideline value of Anna Nagar has changed

The guideline value for Anna Nagar has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 72 per sq.ft, which increased to Rs 100 per sq.ft in 2003. The value saw a significant rise of 39% from 2002 to 2003. Following this, the 2007 revision marked a substantial increase to Rs 400 per sq.ft, reflecting a 300% change from the previous figure. The 2012 revision saw a further increase to Rs 1,200 per sq.ft, which was a 200% rise from the 2007 value. However, this was followed by a decrease of 33% in the 2017 revision, bringing the value down to Rs 804 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, which is a 64% increase from 2017.

It is important to note that there is no figure recorded for the year 2023 for this street. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by a remarkable 1733%.

Guideline values in Pallikaranai

The guideline values for Pallikaranai village reflect a range of Rs 1,110 to Rs 8,580 per sq.ft as of the 2024 revision, with a median value of Rs 1,650 per sq.ft. The guideline value for Anna Nagar is below this median.

• Anna M.G.R Nagar Rajugandhi 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 Indirgandhi Street: Rs 1,320 per sq.ft (2024)
• Anna M.G.R Nagar Gandhi Street: Rs 1,320 per sq.ft (2024)
• Annai Therasa Street Extn: Rs 1,650 per sq.ft (2024)
• Anna Nagar Merkku 6th Cross Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty is charged at 7%, resulting in Rs 92,400, while the registration fee at 2% amounts to Rs 26,400. Together, the total fees would be Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anna Nagar?

The Anna Nagar area falls under the jurisdiction of 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 details.

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

The guideline value is a crucial factor during 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 ensures that the property is not undervalued during the transaction.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Anna Nagar?

The current guideline value for Anna Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 72 per sq.ft to Rs 1,320 per sq.ft in 2024, marking an overall increase of 1733%.

What is the role of the Chennai South Joint I SRO?

The Chennai South Joint I SRO is responsible for setting and maintaining the guideline values for properties in its jurisdiction, including Anna Nagar and other areas in Pallikaranai.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Anna Nagar is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the appropriate link provided for locating SROs, which will guide you to the relevant office for your area.