Guideline Value for Annai Besant Street

Annai Besant Street guideline value

The current guideline value of Annai Besant Street in Erukancherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class IV Type - I.

How the guideline value of Annai Besant Street has changed

The guideline value for Annai Besant Street has undergone several revisions over the years. The earliest figure recorded was Rs 2,000 per sq.ft in 2012. This value saw a decrease to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and then further rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the jump from 2017 to 2023 was significant at 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft as of 2024. The median value for these streets is Rs 2,500 per sq.ft, placing the guideline value of Annai Besant Street below that median.

• Anderson Street: Rs 1,900 per sq.ft (2024)
• Anna Main Salai: Rs 2,500 per sq.ft (2024)
• Anna Salai 1st Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 1st Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 2nd Cross Street: Rs 2,500 per sq.ft (2024)
• Anna Salai 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Besant Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the 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 Besant Street?

The Sub Registrar Office that covers Annai Besant 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 Erukancherry

The guideline value is a crucial factor in the registration process of property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for maintaining transparency in property dealings. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Annai Besant Street?

The current guideline value of Annai Besant Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Annai Besant Street?

Annai Besant Street is classified as Residential Class IV Type - I.

What is the median guideline value for streets in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, which is higher than the current value of Annai Besant Street.

Where is the Madhavaram Sub Registrar Office located?

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