Guideline Value for Annai Avenue

Annai Avenue guideline value

The current guideline value of Annai Avenue, located in Serapanancheri village under the Padappai SRO, is Rs 720 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Annai Avenue has changed

The guideline value of Annai Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 400 per sq.ft. This increased to Rs 435 per sq.ft in 2017, marking a change of 9%. The next revision in 2023 saw a significant jump to Rs 650 per sq.ft, which is an increase of 49% from the previous figure. The current revision in 2024 has further raised the guideline value to Rs 720 per sq.ft, reflecting an 11% increase from 2023. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 80%. This consistent rise indicates a steady adjustment in property values in the area.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, which matches the current guideline value of Annai Avenue.

• Anna Nagar: Rs 990 per sq.ft (2024)
• Anna Nagar S.Nos.108/1b, 111/8b, 111/2, 111/3: Rs 990 per sq.ft (2024)
• Amman Nagar Extn I and II: Rs 720 per sq.ft (2024)
• Amman Nagar: Rs 720 per sq.ft (2024)
• Balaji Nagar: Rs 720 per sq.ft (2024)
• Cresent Enclave: Rs 4,440 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 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400. Together, these fees amount to Rs 64,800. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Serapanancheri

The guideline value is a crucial factor when registering property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the necessary fees. If the sale price is higher than the guideline value, the duty is charged based on the sale price instead.

Frequently asked questions

What is the current guideline value for Annai Avenue?

The current guideline value for Annai Avenue is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2012 to Rs 720 per sq.ft in 2024, reflecting an overall increase of 80% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 64,800.

Which Sub Registrar Office covers Annai Avenue?

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

What is the land classification for Annai Avenue?

Annai Avenue falls under the Residential Class I Type - I land classification, which is significant for property transactions in the area.