Guideline Value for Anna Street

Anna Street guideline value

The current guideline value of Anna Street in Parangimalai village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Anna Street has changed

The guideline value for Anna Street has seen several revisions since 2002. The value started at Rs 256 per sq.ft in 2002, then increased to Rs 320 per sq.ft in 2003, marking a 25% rise. The value continued to climb, reaching Rs 750 per sq.ft in 2007, which was a significant increase of 134%. By 2012, the value was adjusted to Rs 3,000 per sq.ft, reflecting a decrease of 300% from the previous revision.

In 2017, the guideline value rose to Rs 2,010 per sq.ft, showing a 49% increase. The most recent revision in 2023 set the value at Rs 3,000 per sq.ft, before it increased to Rs 3,300 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1189%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, making the current value of Anna Street below this median.

• Appavu Mudali Street: Rs 3,300 per sq.ft (2024)
• Asarkana Lane: Rs 3,300 per sq.ft (2024)
• Ashokan Street: Rs 2,750 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Anna Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Anna Street?

Anna Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an important factor when buying or selling property in Parangimalai. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is registered at a fair value. This value is crucial for calculating stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that both the buyer and seller comply with legal requirements. It is essential to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Anna Street?

The current guideline value of Anna Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, starting from Rs 256 per sq.ft to Rs 3,300 per sq.ft in 2024. The overall increase from 2002 to 2024 is 1189%.

What is the land classification of Anna Street?

Anna Street is classified as Residential Class II Type - II according to the Chennai South Joint II SRO.

What are the stamp duty and registration fees for property in Anna Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

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

The Sub Registrar Office covering Anna Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find more information online.