Guideline Value for Anna 2nd Street

Anna 2nd Street guideline value

The current guideline value of Anna 2nd Street in Madambakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Anna 2nd Street has changed

The guideline value for Anna 2nd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has brought the value to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Anna 2nd Street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Anna 2nd Street's 2024 figure below this median.

• Anna 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Anna 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Anna 1st Street: Rs 1,600 per sq.ft (2024)
• Anna 3rd Street: Rs 1,600 per sq.ft (2024)
• Anna 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Anna Durai Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Anna 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Anna 2nd Street?

The Sub Registrar Office that covers Anna 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standard valuation rather than the negotiated sale price.

During the registration process, buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of Anna 2nd Street?

The current guideline value of Anna 2nd Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Anna 2nd Street?

Anna 2nd Street is classified as Residential Class II Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Anna 2nd Street?

Stamp duty for properties in Anna 2nd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.