Guideline Value for Anna Street (Vellala Street 2nd Lane)

Anna Street (Vellala Street 2nd Lane) guideline value

The current guideline value of Anna Street (Vellala Street 2nd Lane) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Anna Street (Vellala Street 2nd Lane) has changed

The guideline value for Anna Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This figure rose significantly to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, the value dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, which was a 49% rise, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, representing a 10% increase from the previous year.

The register has no figure for Anna Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which means that Anna Street's 2024 figure is below this median.

• Anna Street (GKM Colony) Chennai 82: Rs 4,400 per sq.ft (2024)
• Archin Lake Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Arulappa Street: Rs 4,400 per sq.ft (2024)
• Annai Therasa Street, Chennai 82 (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Arumuga naicker Street: Rs 4,400 per sq.ft (2024)
• Annai Anjugam Nagar, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Street (Vellala Street 2nd Lane)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. 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 Street (Vellala Street 2nd Lane)?

The Sub Registrar Office that covers Anna Street (Vellala Street 2nd Lane) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government collects the appropriate fees based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Anna Street (Vellala Street 2nd Lane)?

The current guideline value of Anna Street (Vellala Street 2nd Lane) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What is the land classification for Anna Street (Vellala Street 2nd Lane)?

Anna Street (Vellala Street 2nd Lane) is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Anna Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Anna Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.