Guideline Value for ANNAI THERASA NAGAR

Annai Therasa Nagar guideline value

The current guideline value of Annai Therasa Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village, falling under the Villivakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Annai Therasa Nagar has changed

The guideline value of Annai Therasa Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 56 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2007. Following this, the value surged by 380% to reach Rs 1,200 per sq.ft in 2012. However, there was a decline of 33% to Rs 804 per sq.ft by 2017. The value then rose sharply by 49% to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as per the 2024 revision, marking an 8% increase from the previous year.

It is important to note that the register has no figure for this street in 2003. Overall, from 2002 to 2024, the guideline value has increased by a remarkable 2221%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with 2024 guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Annai Therasa Nagar's 2024 figure below this median.

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

Stamp duty and registration fee for property in Annai Therasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Therasa Nagar?

Annai Therasa Nagar is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for additional 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 in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to accurately calculate the costs involved in the property transfer.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Annai Therasa Nagar?

The current guideline value of Annai Therasa Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 56 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 2221% over the years.

What is the land classification for Annai Therasa Nagar?

Annai Therasa Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

Where can I find the Villivakkam Sub Registrar Office?

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 Therasa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at 7%.