Guideline Value for ANNAI SATHYA NAGAR

Annai Sathya Nagar guideline value

The current guideline value of Annai Sathya Nagar, located in Ramapuram village, is Rs 3,100 per sq.ft. This value is set by the Chennai South Joint II SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Annai Sathya Nagar has changed

The guideline value for Annai Sathya Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 280 per sq.ft, which increased to Rs 600 per sq.ft in 2003. Following this, the value rose to Rs 1,100 per sq.ft in 2007, and then to Rs 2,800 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 1,876 per sq.ft. The value then increased to Rs 2,800 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 3,100 per sq.ft.

Looking at the changes, from 2017 to 2023, there was an increase of 49%. The jump from 2023 to 2024 reflects an increase of 11%. The overall change from 2002 to 2024 shows a substantial increase of 1007% in the guideline value for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is equal to the guideline value of Annai Sathya Nagar. Below are the guideline values for other streets in Ramapuram:

• Annai Sathiya Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar First Cross Street: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• Annai Sathiya Nagar 1 to 11 Street: Rs 3,100 per sq.ft (2024)
• Annai Sathya Nagar Extension: Rs 3,100 per sq.ft (2024)
• Annai Indira Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Sathya Nagar?

The Sub Registrar Office that covers Annai Sathya Nagar is the Chennai South Joint II 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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, while also protecting the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Annai Sathya Nagar?

The current guideline value of Annai Sathya Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 280 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, reflecting an overall increase of 1007% over the years.

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

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers Annai Sathya Nagar?

The Chennai South Joint II Sub Registrar Office covers Annai Sathya Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Annai Sathya Nagar?

Annai Sathya Nagar falls under the Residential Class II Type - I land classification as per the guidelines set by the Chennai South Joint II SRO.