Guideline Value for Annai Avenue

Annai Avenue guideline value

The current guideline value of Annai Avenue in Vadaperumbakkam village, under the Redhills SRO, is Rs 1,006 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Annai Avenue has changed

The guideline value for Annai Avenue has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. Following this, the value rose significantly to Rs 500 per sq.ft in 2023, and most recently, it has increased to Rs 1,006 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

Between these revisions, significant changes were noted. The increase from 2017 to 2023 was 49%, while the jump from 2023 to 2024 was a remarkable 101%. The overall change from 2007 to 2024 reflects a substantial increase of 403% in the guideline value.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Annai Avenue's current guideline value is above this median, indicating its relative position in the area.

• Annai Nagar: Rs 1,004 per sq.ft (2024)
• Anbu Valarmathi Nagar: Rs 1,000 per sq.ft (2024)
• Balaji Nagar: Rs 1,004 per sq.ft (2024)
• Bhuvaneswari Avenue: Rs 1,004 per sq.ft (2024)
• Buneshwari Nagar: Rs 1,006 per sq.ft (2024)
• Chelliyamman Nagar: Rs 1,003 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 1,006 per sq.ft, the total guideline value amounts to Rs 10,06,000. The stamp duty at 7% would be Rs 70,420, and the registration fee at 2% would be Rs 20,120, making the total cost of duty and registration fees Rs 90,540. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of the transaction. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Annai Avenue?

The current guideline value of Annai Avenue is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,006 per sq.ft in 2024, reflecting an overall increase of 403%.

What is the land classification for Annai Avenue?

Annai Avenue is classified under Residential Class III Type - I.

What is the registration office for Annai Avenue?

The registration office covering Annai Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Annai Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 10,06,000, the stamp duty would be Rs 70,420.