Guideline Value for ANNAI AVENUE

Annai Avenue guideline value

The current guideline value of Annai Avenue in Korattur village, under the Villivakkam SRO, is Rs 2,100 per sq.ft, effective from 1 July 2024. This area falls under Residential Class III Type - I land classification.

How the guideline value of Annai Avenue has changed

Over the years, the guideline value of Annai Avenue has seen several revisions. The earliest recorded value in 2002 was Rs 200 per sq.ft. This figure rose significantly to Rs 375 per sq.ft in 2007, marking an increase of 88%. The value remained unchanged at Rs 2,000 per sq.ft from 2012 until 2023. In 2024, the guideline value was revised to Rs 2,100 per sq.ft, reflecting a 5% increase from the previous year.

It is important to note that there are no figures available for the years 2003 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 950%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Annai Avenue's 2024 figure below that median.

• ANNAI AVENUE (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Annai Mariya Nagar: Rs 1,300 per sq.ft (2024)
• Annai Mookambikai Nagar (Kallikuppam): Rs 1,300 per sq.ft (2024)
• Annai Nagar Annexe: Rs 2,700 per sq.ft (2024)
• Annai Nagar Chockanathan St: Rs 2,700 per sq.ft (2024)
• Annai Nagar Extension: Rs 2,700 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 2,100 per sq.ft, the total guideline value amounts to Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total cost for these fees to Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Annai Avenue?

The Sub Registrar Office that covers Annai Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the correct fees are calculated based on the higher value between the guideline value and the sale price of the property.

Frequently asked questions

What is the current guideline value of Annai Avenue?

The current guideline value of Annai Avenue is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2002 to Rs 2,100 per sq.ft in 2024, marking an overall increase of 950% over this period.

What is the registration office for Annai Avenue?

The registration office for Annai Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for properties in Annai Avenue?

The stamp duty rate for properties in Annai Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

How does the guideline value impact property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the correct fees are paid based on the higher value between the guideline value and the sale price.