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 Ramapuram village under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Annai Indira Nagar has changed

The guideline value for Annai Indira Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 419 per sq.ft, which increased to Rs 518 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,100 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017 before increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,750 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 556%. The changes between the revisions include a 24% increase from 2002 to 2003, a 112% increase from 2003 to 2007, a 127% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Annai Indira Nagar's 2024 guideline value of Rs 2,750 per sq.ft is below this median.

• Annai Sathiya Nagar 1 to 11 Street: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar First Cross Street: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Annai Sathya Nagar: Rs 3,100 per sq.ft (2024)
• Annai Sathya Nagar Extension: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to 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?

The Sub Registrar Office that covers Annai Indira Nagar is the Chennai South Joint II 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 Ramapuram

The guideline value plays a crucial role during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of their transaction.

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 much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 419 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 556% over this period.

What are the guideline values of other streets in Ramapuram?

Other streets in Ramapuram, such as Annai Sathiya Nagar, have a guideline value of Rs 3,100 per sq.ft as of 2024, which is higher than that of Annai Indira Nagar.

What fees are associated with buying property in Annai Indira Nagar?

When purchasing property in Annai Indira Nagar, buyers are required to pay stamp duty at 7% of the guideline value and a registration fee at 2% of the guideline value.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Annai Indira Nagar is the Chennai South Joint II Sub Registrar Office. You can find more information on how to locate your SRO through the provided link.