Guideline Value for Annai Arul Nagar

Annai Arul Nagar guideline value

The current guideline value of Annai Arul Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This locality is situated in Padappai village, which falls under the Padappai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Annai Arul Nagar has changed

The guideline value for Annai Arul Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where it was Rs 50 per sq.ft. This value saw a significant increase to Rs 600 per sq.ft in 2012, marking a rise of 1100%. However, it then decreased to Rs 402 per sq.ft in 2017, a decline of 33%. The value continued to rise to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no recorded figures for the years 2002 and 2003 for Annai Arul Nagar. The overall increase from the 2007 revision to the 2024 revision is 1220%, showcasing a substantial change in the guideline value over the years.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, indicating that Annai Arul Nagar's 2024 figure is below this median.

• Anitha Nagar: Rs 830 per sq.ft (2024)
• Anna Nagar: Rs 660 per sq.ft (2024)
• Ambedgar Street: Rs 660 per sq.ft (2024)
• Arumugam Nagar: Rs 830 per sq.ft (2024)
• Asha Nagar: Rs 3,300 per sq.ft (2024)
• Abi's Asirvad Avenue Extension: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Arul Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total charges Rs 59,400. 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 Annai Arul Nagar?

The Sub Registrar Office that covers Annai Arul Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Padappai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Annai Arul Nagar?

The current guideline value of Annai Arul Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 1220% over the years.

What are the stamp duty and registration fees for a property in Annai Arul Nagar?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Annai Arul Nagar?

The Padappai Sub Registrar Office handles registrations for Annai Arul Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value to comply with legal requirements.