Guideline Value for ANNAITHERASA STREET

Annaitherasa Street guideline value

The current guideline value of Annaitherasa Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Annaitherasa Street has changed

Over the years, the guideline value of Annaitherasa Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2017 revision, when it decreased to Rs 1,340 per sq.ft. However, the value saw a significant increase in the following years, rising to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, there was a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Annaitherasa Street.

• Annai Indira Nagar: Rs 2,750 per sq.ft (2024)
• Annapoorani Nagar / Street: Rs 2,750 per sq.ft (2024)
• Annasalai Nagar: Rs 2,750 per sq.ft (2024)
• Anna Street: Rs 2,200 per sq.ft (2024)
• Apper Street: Rs 2,750 per sq.ft (2024)
• Amsavalli Street (Somu Nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annaitherasa Street

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Annaitherasa Street?

Annaitherasa Street is covered by 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 information.

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

The guideline value is a critical factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these are calculated based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Annaitherasa Street?

The current guideline value of Annaitherasa Street 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What is the land classification for Annaitherasa Street?

Annaitherasa Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the median guideline value in Medavakkam?

The median guideline value for streets in Medavakkam under the Chennai South Joint I SRO is Rs 2,200 per sq.ft, which is the same as the guideline value for Annaitherasa Street.

Where is the Sub Registrar Office for Annaitherasa Street located?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.