Guideline Value for ANNAI ABIRAMI NAGAR 1ST STREET

Annai Abirami Nagar 1st Street guideline value

The current guideline value of Annai Abirami Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Annai Abirami Nagar 1st Street has changed

The guideline value for Annai Abirami Nagar 1st Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%, with the current figure aligning with the median value of Rs 1,650 per sq.ft for other streets in Kolathuvancheri.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,600 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for Annai Abirami Nagar 1st Street. Below are other streets in Kolathuvancheri:

• Annai Abirami Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Annai Abirami Nagar: Rs 1,650 per sq.ft (2024)
• Anna Nagar: Rs 1,870 per sq.ft (2024)
• Arunachalam Avenue / Nagar: Rs 1,870 per sq.ft (2024)
• Arun Nagar / Street: Rs 990 per sq.ft (2024)
• Ashok Brindavan: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Abirami Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Abirami Nagar 1st Street?

The Sub Registrar Office that covers Annai Abirami Nagar 1st 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 Kolathuvancheri

The guideline value plays a crucial role in property transactions in Kolathuvancheri. It is used to determine the minimum value of a property for registration purposes. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not lower than the guideline value. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Annai Abirami Nagar 1st Street?

The current guideline value of Annai Abirami Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Kolathuvancheri with similar guideline values?

Other streets in Kolathuvancheri, such as Annai Abirami Nagar 2nd Street and Annai Abirami Nagar, also have a guideline value of Rs 1,650 per sq.ft in 2024.

What is the stamp duty rate for properties in Annai Abirami Nagar 1st Street?

The stamp duty rate for properties in Annai Abirami Nagar 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Annai Abirami Nagar 1st Street?

The Sub Registrar Office for Annai Abirami Nagar 1st Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.