Guideline Value for ANNAI INDIRA 1ST CROSS STREET

Annai Indira 1st Cross Street guideline value

The current guideline value of Annai Indira 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Annai Indira 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained until the 2017 revision when it was revised down to Rs 1,005 per sq.ft, marking a decrease of 33%. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by a further rise to Rs 1,650 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Annai Indira 1st Cross Street.

• 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 Garden: Rs 1,320 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 Indira 1st Cross 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, bringing the total to Rs 1,48,500. It is important to note that 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 Indira 1st Cross Street?

The Sub Registrar Office that covers Annai Indira 1st Cross 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 Pallikaranai

The guideline value is a crucial factor in property transactions in Pallikaranai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will rely on the guideline value or the actual sale price, whichever is higher.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value. This ensures that the government receives appropriate revenue from property transactions, making it essential for both parties to be aware of the current guideline value.

Frequently asked questions

What is the current guideline value of Annai Indira 1st Cross Street?

The current guideline value of Annai Indira 1st Cross 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 1,650 per sq.ft in 2024, with various revisions in between, including a drop to Rs 1,005 per sq.ft in 2017 and a rise back to Rs 1,500 per sq.ft in 2023.

What is the land classification for Annai Indira 1st Cross Street?

Annai Indira 1st Cross Street is classified as Residential Class IV Type - I.

What is the registration office for properties in this area?

The registration office for properties in Annai Indira 1st Cross 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.

How is stamp duty calculated for properties in Annai Indira 1st Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.