Guideline Value for ANNAI MARIYA NAGAR

Annai Mariya Nagar guideline value

The current guideline value of Annai Mariya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This locality is situated in Korattur village, under the Villivakkam Sub Registrar Office. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Annai Mariya Nagar has changed

The guideline value for Annai Mariya Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, showing a remarkable increase of 380%. The value remained unchanged at Rs 1,200 per sq.ft in the 2023 revision. The latest revision in 2024 has set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 420%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, indicating that the guideline value of Annai Mariya Nagar is below this median.

• Annai Mookambikai Nagar (Kallikuppam): Rs 1,300 per sq.ft (2024)
• Annai Nagar Annexe: Rs 2,700 per sq.ft (2024)
• Annai Nagar Chockanathan St: Rs 2,700 per sq.ft (2024)
• Annai Nagar Extension: Rs 2,700 per sq.ft (2024)
• Annai Nagar Part II, Vedha Avenue: Rs 2,700 per sq.ft (2024)
• Annai Nagar/Streets: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Mariya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total cost for these charges Rs 1,17,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Annai Mariya Nagar?

The Sub Registrar Office that covers Annai Mariya Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration of property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring transparency in the property transaction process.

When registering a property, the guideline value helps in establishing a fair basis for the transaction, ensuring that all parties are aware of the financial obligations involved. It is advisable to consult the guideline value before finalizing any property deals to avoid discrepancies later.

Frequently asked questions

What is the current guideline value of Annai Mariya Nagar?

The current guideline value of Annai Mariya Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 420% over the years.

What are the stamp duty and registration fees for property in Annai Mariya Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Annai Mariya Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Annai Mariya Nagar?

The land classification for Annai Mariya Nagar is Residential Class IV Type - I, indicating its suitability for residential development.