Guideline Value for ANNAI PARVATHI NAGAR

Annai Parvathi Nagar guideline value

The current guideline value of Annai Parvathi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Annai Parvathi Nagar has changed

The guideline value for Annai Parvathi Nagar has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a 100% rise. However, in 2017, it dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, reflecting a 49% rise. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

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 120%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, making the current guideline value of Annai Parvathi Nagar below this median.

• Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• ANNAI AVENUE 2nd STREET: Rs 2,800 per sq.ft (2024)
• ANNAI AVENUE 1st STREET: Rs 2,800 per sq.ft (2024)
• Annai Avenue: Rs 3,900 per sq.ft (2024)
• ANNAI 3rd STREET: Rs 3,300 per sq.ft (2024)
• ANNAI 2nd STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Parvathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Parvathi Nagar?

The Sub Registrar Office that covers Annai Parvathi Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO here.

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

The guideline value is a critical factor in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value helps determine the legal value of the property for registration purposes. It is essential for both buyers and sellers to be aware of the guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Annai Parvathi Nagar?

The current guideline value of Annai Parvathi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

What is the stamp duty for property in Annai Parvathi Nagar?

The stamp duty for property in Annai Parvathi Nagar is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Neelankarai Sub Registrar Office covers Annai Parvathi Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location within the village.