Guideline Value for ANNAI GARDEN

Annai Garden guideline value

The current guideline value of Annai Garden is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Annai Garden has changed

Over the years, the guideline value of Annai Garden has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2024, the guideline value increased significantly to Rs 1,320 per sq.ft, marking a rise of 64%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. Thus, the only revisions that provide a guideline value are from 2012, 2017, and 2024.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Annai Garden's 2024 figure below this median.

• Annai Indira 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Annai Indira 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Annai Indira 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Annai Indira Street: Rs 1,650 per sq.ft (2024)
• Anjani Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Anjani Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Garden?

The Sub Registrar Office that covers Annai Garden 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 Pallikaranai

When buying or selling property in Pallikaranai, the guideline value plays a crucial role in determining the registration fees. The guideline value is the minimum value at which a property can be registered, and it is used to calculate the stamp duty and registration fees applicable to the transaction.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Annai Garden?

The current guideline value of Annai Garden is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then to Rs 1,320 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Annai Garden?

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

Where can I find the registration office for Annai Garden?

The registration office for Annai Garden 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.

How is stamp duty calculated for properties in Annai Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at 7%.