Guideline Value for Anna Street

Anna Street guideline value

The current guideline value of Anna Street in Sholavaram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Anna Street has changed

Over the years, the guideline value of Anna Street has seen significant revisions. The earliest recorded figure is from 2003, which was Rs 33 per sq.ft. This increased to Rs 200 per sq.ft in 2007, marking a substantial rise of 506%. In 2012, the value was revised to Rs 500 per sq.ft, reflecting a 150% increase from the previous revision. The 2017 revision saw a decrease to Rs 335 per sq.ft, a drop of 33%. However, from 2017 to 2023, the guideline value rose sharply to Rs 500 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is a 10% increase from the 2023 figure.

It is important to note that there is no recorded figure for Anna Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1567%.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value of Anna Street is below this median.

• Arimaa Kvg Nagar: Rs 710 per sq.ft (2024)
• Asokar Street: Rs 550 per sq.ft (2024)
• At FUTURE CITY: Rs 550 per sq.ft (2024)
• Ambedkar Street: Rs 550 per sq.ft (2024)
• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Balamurugan Nagar: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is important to 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 details.

Which Sub Registrar Office covers Anna Street?

The Sub Registrar Office that covers Anna Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value helps in assessing the appropriate fees that need to be paid. It is essential for both parties to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Anna Street?

The current guideline value of Anna Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 33 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting a significant overall increase of 1567% over this period.

What is the registration office for Anna Street?

The registration office for Anna Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

How is the guideline value determined for properties in Sholavaram?

The guideline value for properties in Sholavaram is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.