Guideline Value for ANNAI NAGAR EXTENSION

Annai Nagar Extension guideline value

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

How the guideline value of Annai Nagar Extension has changed

The guideline value has seen several revisions over the years. Starting from Rs 186 per sq.ft in 2002, it increased significantly to Rs 600 per sq.ft in 2007, marking a 223% rise. The value then jumped to Rs 2,500 per sq.ft in 2012, which was a 317% increase from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% drop. The value then rose to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1352%. It is important to note that there is no figure available for the year 2003 in the register 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. The guideline value for Annai Nagar Extension is above this median.

• Annai Nagar Chockanathan St: Rs 2,700 per sq.ft (2024)
• Annai Nagar Part II, Vedha Avenue: Rs 2,700 per sq.ft (2024)
• Annai Nagar Annexe: 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 Extension

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, and the registration fee at 2% would be Rs 54,000, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Nagar Extension?

The Sub Registrar Office that covers Annai Nagar Extension 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

When buying or selling property in Korattur, the guideline value is used to determine the stamp duty and registration fees applicable during the registration process. This value is crucial as it ensures that the correct fees are calculated based on the property's worth as determined by the government.

The guideline value serves as a benchmark for property transactions, ensuring transparency and standardization in the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Annai Nagar Extension?

The current guideline value of Annai Nagar Extension 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 increased from Rs 186 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1352% over this period.

What is the land classification of Annai Nagar Extension?

Annai Nagar Extension falls under the Residential Class I Type - III land classification.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Annai Nagar Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a plot valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000.