Guideline Value for ANNAI MURUGAMMAL AVENUE

Annai Murugammal Avenue guideline value

The current guideline value of Annai Murugammal Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Annai Murugammal Avenue has changed

The guideline value for Annai Murugammal Avenue has undergone several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Annai Murugammal Avenue's 2024 figure above that median.

• Annai Murugammal Nagar: Rs 3,300 per sq.ft (2024)
• Animal Park: Rs 1,700 per sq.ft (2024)
• Anna Nagar Thoripakkam Salai: Rs 1,700 per sq.ft (2024)
• Anbalagan Street: Rs 1,700 per sq.ft (2024)
• Anna Street/Anna Nagar: Rs 1,700 per sq.ft (2024)
• Arigner Anna Nagar 1st Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Murugammal Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Murugammal Avenue?

The Sub Registrar Office that covers Annai Murugammal Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Neelankarai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded accurately in the official register. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annai Murugammal Avenue?

The current guideline value of Annai Murugammal Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then up to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Annai Murugammal Avenue?

The Neelankarai Sub Registrar Office covers Annai Murugammal Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties in Neelankarai?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and historical revisions. It plays a critical role in calculating stamp duty and registration fees during property transactions.