Guideline Value for ANNAI NAGAR PART II, VEDHA AVENUE

Annai Nagar Part II, Vedha Avenue guideline value

The current guideline value for Annai Nagar Part II, Vedha Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This property 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 Part II, Vedha Avenue has changed

The guideline value for Annai Nagar Part II, Vedha Avenue has seen significant changes over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 317%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. Most recently, the value was revised to Rs 2,700 per sq.ft in 2024, 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 carry 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 Rs 2,700 per sq.ft for Annai Nagar Part II, Vedha Avenue above the median.

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

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 fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Nagar Part II, Vedha Avenue?

The Sub Registrar Office covering Annai Nagar Part II, Vedha Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable duties and fees. This ensures transparency and fairness in property transactions, as the guideline value reflects the official assessment of property worth in the area.

Frequently asked questions

What is the current guideline value of Annai Nagar Part II, Vedha Avenue?

The current guideline value of Annai Nagar Part II, Vedha Avenue 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 Part II, Vedha Avenue?

The land classification for Annai Nagar Part II, Vedha Avenue is Residential Class I Type - III.

Which office handles registrations for Annai Nagar Part II, Vedha Avenue?

The Villivakkam Sub Registrar Office handles registrations for Annai Nagar Part II, Vedha Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What should I consider when calculating stamp duty and registration fees?

When calculating stamp duty and registration fees, consider the guideline value or the sale price, whichever is higher. The stamp duty is charged at 7%, while the registration fee is charged at 2% of the guideline value.