Guideline Value for ANNAI NAGAR/STREETS

Annai Nagar/Streets guideline value

The current guideline value for Annai Nagar/Streets in Korattur village is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Villivakkam Sub Registrar Office and is classified as Residential Class I Type - III.

How the guideline value of Annai Nagar/Streets has changed

Over the years, the guideline value for Annai Nagar/Streets has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 2,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects an increase of 8%, with the most recent change from 2023 to 2024 showing an 8% increase as well.

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/Streets is above this median.

• Annai Nagar Part II, Vedha Avenue: Rs 2,700 per sq.ft (2024)
• 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 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/Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a combined total of 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 our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Annai Nagar/Streets?

The Villivakkam Sub Registrar Office covers Annai Nagar/Streets, 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 during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This value helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Annai Nagar/Streets?

The current guideline value for Annai Nagar/Streets 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the classification of land in Annai Nagar/Streets?

The land in Annai Nagar/Streets is classified as Residential Class I Type - III.

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 stamp duty calculated for properties in Annai Nagar/Streets?

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