Guideline Value for ANNAI AVENUE

Annai Avenue guideline value

The current guideline value of Annai Avenue, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Annai Avenue has changed

Over the years, the guideline value of Annai Avenue has seen significant changes. In 2003, the guideline value was Rs 286 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a substantial rise of 180%. The value then jumped to Rs 3,500 per sq.ft in 2012, reflecting an increase of 338%. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1264%. The register has no figure for this street in 2002.

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 is Rs 3,300 per sq.ft, and Annai Avenue's current value is above this median.

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

Stamp duty and registration fee for property in Annai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Avenue?

The Sub Registrar Office covering Annai Avenue 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 additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is considered for calculating the applicable duties and fees. This ensures that the government receives the correct amount based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Annai Avenue?

The current guideline value of Annai Avenue is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 286 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 1264% over this period.

What is the land classification of Annai Avenue?

Annai Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Annai Avenue?

Stamp duty for properties in Annai Avenue is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000.