Guideline Value for ANNAI 1st STREET

ANNAI 1st STREET guideline value

The current guideline value of ANNAI 1st STREET in Okkiyamthuraipakkam village, under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of ANNAI 1st STREET has changed

Over the years, the guideline value of ANNAI 1st STREET has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the value increased significantly in the following revisions, reaching Rs 3,000 per sq.ft in 2023, and then rising to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for ANNAI 1st STREET.

• ANNAI 2nd STREET: Rs 3,300 per sq.ft (2024)
• ANNAI 3rd STREET: Rs 3,300 per sq.ft (2024)
• Anna Avenue(Annamalai Avenue): Rs 3,900 per sq.ft (2024)
• Annai Avenue: Rs 3,900 per sq.ft (2024)
• ANNAI AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• ANNAI AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in ANNAI 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ANNAI 1st STREET?

ANNAI 1st STREET is covered by 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 Okkiyamthuraipakkam

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers should be aware that the guideline value may influence the sale price, as it is often used by authorities for calculating stamp duty and registration fees.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in the real estate market. It is essential for both buyers and sellers to understand how this value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of ANNAI 1st STREET?

The current guideline value of ANNAI 1st 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for ANNAI 1st STREET?

ANNAI 1st STREET falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for ANNAI 1st STREET?

The Neelankarai Sub Registrar Office covers ANNAI 1st STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

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