Guideline Value for Annai Avenue 1st Street

Annai Avenue 1st Street guideline value

The current guideline value of Annai Avenue 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Annai Avenue 1st Street has changed

The guideline value for Annai Avenue 1st Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 20%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, which is a 6% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal village, there are 170 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 guideline value of Annai Avenue 1st Street below this median.

• Annai Avenue 2nd Street: Rs 1,900 per sq.ft (2024)
• Annai Avenue 3rd Street: Rs 1,900 per sq.ft (2024)
• Anna Indira Nagar: Rs 1,900 per sq.ft (2024)
• Annai Therasa Street: Rs 1,900 per sq.ft (2024)
• Andal Nagar Road: Rs 2,200 per sq.ft (2024)
• Andal Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Avenue 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Avenue 1st Street?

The Sub Registrar Office that covers Annai Avenue 1st Street 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 Selavoyal

The guideline value is a critical factor when registering property in Selavoyal. It determines the minimum value at which a property can be sold and is used to calculate stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value serves as a reference point for taxation purposes. It is essential for both parties to understand this value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Annai Avenue 1st Street?

The current guideline value of Annai Avenue 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 27% over this period.

What is the stamp duty for property in Annai Avenue 1st Street?

The stamp duty for property in Annai Avenue 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Which SRO covers Annai Avenue 1st Street?

The Madhavaram Sub Registrar Office covers Annai Avenue 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal that share the same guideline value of Rs 1,900 per sq.ft include Annai Avenue 2nd Street, Annai Avenue 3rd Street, and Anna Indira Nagar.