Guideline Value for ANNAI NAGAR

Annai Nagar guideline value

The current guideline value of Annai Nagar, located in Jelandianpettai village under the Chennai South Joint I SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Annai Nagar has changed

Over the years, the guideline value of Annai Nagar has seen several revisions. The 2007 revision set the value at Rs 1,500 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2012 revision, marking a 67% rise. However, in 2017, the value dropped to Rs 1,675 per sq.ft, which was a decrease of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 83%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Annai Nagar's 2024 figure above this median.

• Annaitherasa Street: Rs 2,200 per sq.ft (2024)
• Annamalai Street: Rs 2,200 per sq.ft (2024)
• Anjineyar Nagar: Rs 2,200 per sq.ft (2024)
• Anjaneyar Nagar Phase II: Rs 1,870 per sq.ft (2024)
• Anjaneyar Nagar Phase 1: Rs 2,200 per sq.ft (2024)
• Andal Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000. Together, the total charges would be Rs 2,47,500. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Annai Nagar?

The Sub Registrar Office that covers Annai Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate revenue from stamp duty and registration fees.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements and fair valuation for property transactions.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 83% over this period.

What is the median guideline value in Jelandianpettai?

The median guideline value in Jelandianpettai is Rs 2,200 per sq.ft, with Annai Nagar's value being above this median.

What are the stamp duty and registration fees for property in Annai Nagar?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles property registration for Annai Nagar?

The Chennai South Joint I Sub Registrar Office handles property registration for Annai Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.