Guideline Value for ANNAI AVENUE 1st STREET

ANNAI AVENUE 1st STREET guideline value

The current guideline value of ANNAI AVENUE 1st STREET in Okkiyamthuraipakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of ANNAI AVENUE 1st STREET has changed

The guideline value of ANNAI AVENUE 1st STREET has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

From 2017 to 2023, the value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing ANNAI AVENUE 1st STREET's 2024 figure below the median.

• ANNAI AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)
• Annai Avenue: Rs 3,900 per sq.ft (2024)
• ANNAI 3rd STREET: Rs 3,300 per sq.ft (2024)
• ANNAI 2nd STREET: Rs 3,300 per sq.ft (2024)
• ANNAI 1st STREET: Rs 3,300 per sq.ft (2024)
• Annai Indira Nagar: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers ANNAI AVENUE 1st STREET?

The ANNAI AVENUE 1st STREET falls under 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 critical factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency in property transactions and helps in maintaining a standard valuation across the region.

Frequently asked questions

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

The current guideline value of ANNAI AVENUE 1st STREET is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for ANNAI AVENUE 1st STREET?

ANNAI AVENUE 1st STREET is classified as Residential Class II Type - II.

Where can I find the registration office for ANNAI AVENUE 1st STREET?

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total costs would be Rs 2,52,000.