Guideline Value for ANNA SALAI

Anna Salai guideline value

The current guideline value of Anna Salai, located in Palavakkam village under the Neelankarai SRO, is Rs 6,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Anna Salai has changed

The guideline value for Anna Salai has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 367 per sq.ft. This increased to Rs 410 per sq.ft in 2003, marking a 12% rise. The value then surged significantly to Rs 2,500 per sq.ft in 2007, which is a 510% increase. Following this, in 2012, the value was recorded at Rs 5,500 per sq.ft, reflecting a substantial 120% increase from the previous revision. However, in 2017, the value dropped to Rs 3,685 per sq.ft, a decrease of 33%.

In 2023, the guideline value rose to Rs 5,500 per sq.ft, and the most recent revision in 2024 set it at Rs 6,100 per sq.ft, marking an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 1562%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Anna Salai's 2024 figure above this median.

• Anna Salai 1st Cross Street/Salai: Rs 6,100 per sq.ft (2024)
• Anna Salai 1st Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 2nd Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 3rd Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 4th Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai (New Colony): Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000. Together, the total cost would be Rs 5,49,000. It is important to 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 Anna Salai?

The Sub Registrar Office that covers Anna Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Palavakkam. 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 stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to avoid overpaying for a property and to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Anna Salai?

The current guideline value of Anna Salai is Rs 6,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 367 per sq.ft in 2002 to Rs 6,100 per sq.ft in 2024, reflecting an overall increase of 1562% over the years.

What is the land classification for Anna Salai?

Anna Salai is classified under Residential Special Type - II, which indicates the type of development permissible in the area.

What are the stamp duty and registration fees for a property in Anna Salai?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,49,000.

Where can I find the Sub Registrar Office for Anna Salai?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.