Guideline Value for Anna 3rd Cross Street (Ward-23)

Anna 3rd Cross Street (Ward-23) guideline value

The current guideline value of Anna 3rd Cross Street (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Anna 3rd Cross Street (Ward-23) has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% rise.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, comparing the 2012 figure to the current 2024 value, there has been an increase of 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Anna 3rd Cross Street (Ward-23) is below this median.

• Anna 2nd Cross Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Anna 1st Cross Street (Ward-23): Rs 1,300 per sq.ft (2024)
• Anjaneyar St (Ward-30): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Bharathi St (Ward-02): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Main Rd (Ward No.2): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Nethaji St (Ward No.2): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Anna 3rd Cross Street (Ward-23)

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 and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anna 3rd Cross Street (Ward-23)?

The Sub Registrar Office that covers Anna 3rd Cross Street (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Anna 3rd Cross Street (Ward-23)?

The current guideline value of Anna 3rd Cross Street (Ward-23) 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 seen various changes: it was Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Anna 3rd Cross Street (Ward-23)?

The land classification for Anna 3rd Cross Street (Ward-23) is Residential Class III Type - I.

Which office handles registrations for Anna 3rd Cross Street (Ward-23)?

The Madhavaram Sub Registrar Office handles registrations for Anna 3rd Cross Street (Ward-23), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Anna 3rd Cross Street (Ward-23)?

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