Guideline Value for Anna Garden 2nd Street

Anna Garden 2nd Street guideline value

The current guideline value of Anna Garden 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Anna Garden 2nd Street has changed

The guideline value for Anna Garden 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. However, from 2017 to 2023, it increased significantly by 49% to reach Rs 3,500 per sq.ft. The latest revision in 2024 has raised the value to Rs 3,850 per sq.ft, marking a 10% 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 this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Anna Garden 2nd Street's 2024 figure below this median.

• Anna Garden 1st Street: Rs 3,850 per sq.ft (2024)
• Anna Garden: Rs 3,850 per sq.ft (2024)
• Annai Indira Nagar: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 2nd Cross Street, Sasthri Street: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that 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 details.

Which Sub Registrar Office covers Anna Garden 2nd Street?

The Sub Registrar Office that covers Anna Garden 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the property registration process in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted fairly and transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions, based on the established guideline values.

Frequently asked questions

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

The current guideline value of Anna Garden 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification of Anna Garden 2nd Street?

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

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Anna Garden 2nd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Anna Garden 2nd Street?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.