Guideline Value for ANNAI NAGAR ANNEXE

Annai Nagar Annexe guideline value

The current guideline value of Annai Nagar Annexe is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Annai Nagar Annexe has changed

The guideline value for Annai Nagar Annexe has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 317%. However, by 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The 2023 revision brought the value up to Rs 2,500 per sq.ft, with an increase of 49%, and the most recent 2024 revision has set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 350%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the current value of Annai Nagar Annexe above that median.

• 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)
• Annai Mookambikai Nagar (Kallikuppam): Rs 1,300 per sq.ft (2024)
• Annai Mariya Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. 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 Nagar Annexe?

The Sub Registrar Office that covers Annai Nagar Annexe 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 in Korattur, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the total cost of the transaction. The higher the guideline value, the more significant the stamp duty and registration fees will be, impacting the overall expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of Annai Nagar Annexe?

The current guideline value of Annai Nagar Annexe is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What is the land classification for Annai Nagar Annexe?

Annai Nagar Annexe is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Annai Nagar Annexe?

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

How is stamp duty calculated for properties in Annai Nagar Annexe?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.