Guideline Value for ANNAI INDIRA 2ND CROSS STREET

Annai Indira 2nd Cross Street guideline value

The current guideline value of Annai Indira 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Annai Indira 2nd Cross Street has changed

Over the years, the guideline value for Annai Indira 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. In 2023, the value increased significantly to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the period from 2012 to 2017 saw a decline of 33%. 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, and 2007 for this street.

Guideline values in Pallikaranai

Pallikaranai village 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, which is the same as the current guideline value for Annai Indira 2nd Cross Street.

• Annai Indira 1st 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 2nd 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 amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Annai Indira 2nd Cross Street?

The Sub Registrar Office that covers Annai Indira 2nd 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 plays a crucial role during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Annai Indira 2nd Cross Street?

The current guideline value of Annai Indira 2nd 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 an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for Annai Indira 2nd Cross Street?

The land classification for Annai Indira 2nd Cross Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Annai Indira 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.