Guideline Value for Anna Main Salai

Anna Main Salai guideline value

The current guideline value of Anna Main Salai is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Anna Main Salai has changed

The guideline value for Anna Main Salai has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,300 per sq.ft in the 2023 revision and further rose to Rs 2,500 per sq.ft in the 2024 revision.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decline of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which matches the guideline value of Anna Main Salai.

• Anna Salai 1st Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 1st Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 4th Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 5th Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Main Salai

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Anna Main Salai?

The Sub Registrar Office that covers Anna Main Salai is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Anna Main Salai?

The current guideline value of Anna Main Salai is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification of Anna Main Salai?

Anna Main Salai is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Anna Main Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.