Guideline Value for ANNAI INDIRA NAGAR

Annai Indira Nagar guideline value

The current guideline value of Annai Indira Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Annai Indira Nagar has changed

Over the years, the guideline value of Annai Indira Nagar has seen several revisions. The 2007 revision set the value at Rs 900 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 brought it to Rs 2,750 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it saw a further increase of 10%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 206%. This demonstrates a significant change in the valuation of properties in this area over the years.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Annai Indira Nagar's current value of Rs 2,750 per sq.ft is above this median.

• Annaitherasa Street: Rs 2,200 per sq.ft (2024)
• Annapoorani Nagar / Street: Rs 2,750 per sq.ft (2024)
• Annasalai Nagar: Rs 2,750 per sq.ft (2024)
• Anna Street: Rs 2,200 per sq.ft (2024)
• Amsavalli Street (Somu Nagar): Rs 2,200 per sq.ft (2024)
• Apper Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira Nagar

For a property in Annai Indira Nagar, the guideline value for a 1,000 sq.ft plot is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that 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 details.

Which Sub Registrar Office covers Annai Indira Nagar?

Annai Indira Nagar falls under 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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Medavakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is transparent and that the property is accurately valued for taxation purposes.

Frequently asked questions

What is the current guideline value of Annai Indira Nagar?

The current guideline value of Annai Indira Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What are the stamp duty and registration fees for properties in Annai Indira Nagar?

For a 1,000 sq.ft property, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Annai Indira Nagar?

Annai Indira Nagar is covered by 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.

What is the median guideline value in Medavakkam?

The median guideline value in Medavakkam is Rs 2,200 per sq.ft, with Annai Indira Nagar's value being above this median at Rs 2,750 per sq.ft.