Guideline Value for Anna Salai 1st Street

Anna Salai 1st Street guideline value

The current guideline value of Anna Salai 1st Street in Erukancherry village is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Anna Salai 1st Street has changed

The guideline value of Anna Salai 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,300 per sq.ft. This figure decreased to Rs 1,541 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,300 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,500 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a guideline value for 2024, 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 is equal to the guideline value of Anna Salai 1st Street.

• Anna Salai 1st Cross 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)
• Anna Salai Vasuki Ammal Layout: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Salai 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Anna Salai 1st Street?

The Sub Registrar Office that covers Anna Salai 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Erukancherry. It determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value serves as a benchmark for the transaction value. If the sale price exceeds the guideline value, the stamp duty will be based on the sale price. Therefore, understanding the guideline value is essential for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Anna Salai 1st Street?

The current guideline value of Anna Salai 1st Street 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 2023 to Rs 2,500 per sq.ft in 2024, a 9% increase. It was Rs 1,541 per sq.ft in 2017, which had increased from Rs 2,300 per sq.ft in 2012.

What is the land classification of Anna Salai 1st Street?

Anna Salai 1st Street is classified as Residential Class III Type - I according to the Madhavaram SRO.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Anna Salai 1st Street is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Anna Salai 1st Street?

The Madhavaram Sub Registrar Office covers Anna Salai 1st Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.