Guideline Value for Annai Avenue

Annai Avenue guideline value

The current guideline value of Annai Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village and falls under the Padappai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Annai Avenue has changed

The guideline value for Annai Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase from Rs 700 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 469 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by +64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Annai Avenue. This lack of data highlights the more recent changes in the guideline values, particularly in the last few years.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which means that Annai Avenue's current value of Rs 770 per sq.ft is below the median.

• Anandham Co-Operative Nagar: Rs 1,430 per sq.ft (2024)
• Anna Salai: Rs 880 per sq.ft (2024)
• Anna Street: Rs 880 per sq.ft (2024)
• Anugraha Estates: Rs 550 per sq.ft (2024)
• Arunachaleswarar Nagar: Rs 880 per sq.ft (2024)
• Aishwarya Avenue: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the 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 Annai Avenue?

The Sub Registrar Office that covers Annai Avenue is the Padappai Sub Registrar Office, 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 Manimangalam A

The guideline value plays a crucial role in property transactions in Manimangalam A. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers should be aware that the guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annai Avenue?

The current guideline value of Annai Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 770 per sq.ft in 2024, marking an overall increase of +64% during that period.

What is the land classification for Annai Avenue?

Annai Avenue is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Annai Avenue located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.