Guideline Value for Anna Street

Anna Street guideline value

The current guideline value of Anna Street, located in Velachery village under the Velacheri SRO, is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - III land classification.

How the guideline value of Anna Street has changed

The guideline value of Anna Street has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft, which increased to Rs 256 per sq.ft in 2003, marking a 12% rise. The value then surged dramatically to Rs 1,500 per sq.ft in 2007, representing a 486% increase. Following that, the value reached Rs 3,500 per sq.ft in 2012, reflecting a 133% increase from the previous revision. However, it then dropped to Rs 2,345 per sq.ft in 2017, showing a decrease of 33%.

From 2017 to 2023, the guideline value increased to Rs 3,500 per sq.ft, a significant rise of 49%. The most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year. The register has no figure for revisions in years other than those mentioned.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Anna Street's 2024 guideline value is below this median.

• Anna Street Lane: Rs 3,850 per sq.ft (2024)
• Anna University (Padmavathi Nagar Ext): Rs 3,850 per sq.ft (2024)
• Anusuya Street: Rs 3,850 per sq.ft (2024)
• Anna Nagar Extn 5th Street: Rs 3,850 per sq.ft (2024)
• Anna Nagar Extn 5th Main Road: Rs 3,850 per sq.ft (2024)
• Anna Nagar Extn 5th Cross Street: Rs 3,850 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these charges Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the process.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Anna Street?

The current guideline value of Anna Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 228 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 1589%.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Anna Street?

The Velacheri Sub Registrar Office handles property registrations for Anna Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the guideline value determined for properties in Velachery?

The guideline value is determined by the Registration Department and is based on various factors including location and land classification. It is revised periodically to reflect changes in the real estate market.