Guideline Value for Annai Avenue 2nd Street

Annai Avenue 2nd Street guideline value

The current guideline value of Annai Avenue 2nd 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 2nd Street has changed

The guideline value for Annai Avenue 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2012, when the value was Rs 1,500 per sq.ft. This figure increased to Rs 1,206 per sq.ft in 2017, marking a decrease of 20%. However, from 2017 to 2023, the value rose significantly by 49% to reach Rs 1,800 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,900 per sq.ft, reflecting a 6% rise from the previous year.

The register has no figures for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

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

• Annai Avenue 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total 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, bringing the total to 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Annai Avenue 2nd Street?

The Sub Registrar Office that covers Annai Avenue 2nd 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 plays a crucial role in the registration of property transactions in Selavoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This ensures that all transactions are documented and comply with local regulations.

Frequently asked questions

What is the current guideline value of Annai Avenue 2nd Street?

The current guideline value of Annai Avenue 2nd 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 land classification for Annai Avenue 2nd Street?

Annai Avenue 2nd Street is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Selavoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty at 7% would be Rs 1,33,000.