Guideline Value for ANNASALAI NAGAR

Annasalai Nagar guideline value

The current guideline value of Annasalai Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Annasalai Nagar has changed

The guideline value for Annasalai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. 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 that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Annasalai Nagar is above this median.

• Annapoorani Nagar / Street: 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)
• Annaitherasa Street: Rs 2,200 per sq.ft (2024)
• Annai Indira Nagar: 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 Annasalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 further calculations.

Which Sub Registrar Office covers Annasalai Nagar?

The Sub Registrar Office that covers Annasalai Nagar is 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 plays a crucial role during the registration process of property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on the official value set by the government.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared for these additional costs when budgeting for their property purchase.

Frequently asked questions

What is the current guideline value of Annasalai Nagar?

The current guideline value of Annasalai Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Annasalai Nagar?

Annasalai Nagar is classified as Commercial Class I Type - III, indicating its commercial significance within the area.

Where can I find the Sub Registrar Office for Annasalai Nagar?

The Sub Registrar Office for Annasalai Nagar is 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.

How is stamp duty calculated for properties in Annasalai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at 7%.