Guideline Value for ANNAI MOOKAMBIKAI NAGAR (KALLIKUPPAM)

Annai Mookambikai Nagar (Kallikuppam) guideline value

The current guideline value of Annai Mookambikai Nagar (Kallikuppam) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Korattur village and is classified as Residential Class IV Type - I. The relevant Sub Registrar Office for this locality is the Villivakkam SRO.

How the guideline value of Annai Mookambikai Nagar (Kallikuppam) has changed

The guideline value for Annai Mookambikai Nagar (Kallikuppam) has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017, before rising to Rs 1,200 per sq.ft again in 2023. The latest revision in 2024 has set the value at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. The most notable increase occurred from 2007 to 2012, which saw a remarkable rise of 380%. Overall, from 2007 to 2024, the guideline value has increased by 420%. The register does not have figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 2,500 per sq.ft. Annai Mookambikai Nagar's current value is below this median.

• Annai Mariya Nagar: 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 Mookambikai Nagar (Kallikuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be 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, bringing the total fees to 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Mookambikai Nagar (Kallikuppam)?

The Sub Registrar Office that covers Annai Mookambikai Nagar (Kallikuppam) 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 when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is registered, the stamp duty is calculated based on the higher value between the guideline value and the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations and to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Annai Mookambikai Nagar (Kallikuppam)?

The current guideline value of Annai Mookambikai Nagar (Kallikuppam) 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 changed from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 420%. Notable changes include a drop to Rs 804 per sq.ft in 2017 and a return to Rs 1,200 per sq.ft in 2023.

What is the registration office for Annai Mookambikai Nagar?

The registration office for Annai Mookambikai Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in Annai Mookambikai Nagar?

Stamp duty in Annai Mookambikai Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.

What are the guideline values for other streets in Korattur?

Other streets in Korattur have varying guideline values, with rates ranging from Rs 1,100 to Rs 8,200 per sq.ft. For instance, Annai Mariya Nagar also has a guideline value of Rs 1,300 per sq.ft in 2024.