Guideline Value for ANNAI NAGAR

Annai Nagar guideline value

The current guideline value of Annai Nagar, located in Avicheri village under the Oothukkottai SRO, is Rs 100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Annai Nagar has changed

Since the 2012 revision, the guideline value for Annai Nagar has seen several changes. In 2012, the guideline value was Rs 75 per sq.ft, which increased to Rs 50 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 100 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 100% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 33%. The 2023 to 2024 revision showed no change, remaining at Rs 100 per sq.ft.

Guideline values in Avicheri

In addition to Annai Nagar, the guideline values for other streets in Avicheri under the Oothukkottai SRO are also set at Rs 100 per sq.ft for 2024. The following are the other streets in Avicheri:

• Unnamed Steet: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. 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 more details.

Which Sub Registrar Office covers Annai Nagar?

The Sub Registrar Office covering Annai Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Avicheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation of the property.

When a property is registered, the higher amount between the guideline value and the actual sale price is considered for duty calculation. This ensures that the government receives the appropriate fees based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in both 2023 and 2024.

What is the stamp duty rate for properties in Annai Nagar?

The stamp duty rate for properties in Annai Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for these calculations, ensuring that the appropriate fees are assessed based on the property's official valuation.