Guideline Value for Anna Street (Ward-29)

Anna Street (Ward-29) guideline value

The current guideline value of Anna Street (Ward-29) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Anna Street (Ward-29) has changed

The guideline value for Anna Street (Ward-29) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and then to Rs 1,600 per sq.ft in the 2024 revision. It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 7%.

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. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Anna Street (Ward-29).

• Anna Street (Ward-23): Rs 1,600 per sq.ft (2024)
• Anna Street (Ward-10): Rs 1,600 per sq.ft (2024)
• Anna Street E-Block ( Ward No.23 ) (Thanikachalam Nagar): Rs 2,700 per sq.ft (2024)
• Annapoorna Nagar Extension: Rs 1,600 per sq.ft (2024)
• Annapoorani Nagar , Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Annapoorani Nagar Annexe / extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Street (Ward-29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Anna Street (Ward-29)?

The Sub Registrar Office that covers Anna Street (Ward-29) 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 Madhavaram

The guideline value is an essential reference for property transactions in Madhavaram. It helps determine the stamp duty and registration fees that must be paid when buying or selling property in the area. The guideline value is used to ensure that the transaction is registered at a fair value, reflecting the current market conditions.

When a buyer or seller engages in a property transaction, the guideline value serves as a baseline for calculating the necessary fees. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Anna Street (Ward-29)?

The current guideline value of Anna Street (Ward-29) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024. The value decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, marking a 33% drop.

What is the land classification for Anna Street (Ward-29)?

The land classification for Anna Street (Ward-29) is Residential Class II Type - I, indicating its suitability for residential development.

What is the registration office for Anna Street (Ward-29)?

The registration office for Anna Street (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.