Guideline Value for Annai Indira Nagar (Ward-02)

Annai Indira Nagar (Ward-02) guideline value

The current guideline value of Annai Indira Nagar (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Annai Indira Nagar (Ward-02) has changed

Looking back at the revisions, the guideline value for Annai Indira Nagar was Rs 1,200 per sq.ft in 2012, which remained unchanged until the 2023 revision. In 2023, the value was revised to Rs 1,200 per sq.ft, and then increased to Rs 1,300 per sq.ft in 2024, marking an 8% increase between 2023 and 2024. Overall, from 2012 to 2024, the guideline value has risen by 8%.

The register does not provide figures for the years 2002, 2003, 2007, and 2017 for this street. Thus, the only recorded revisions are from 2012, 2023, and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making the 2024 figure for Annai Indira Nagar (Ward-02) below that median.

• Annai Indira Nagar V.O.C.St (Ward No.2): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Venu St (Ward No.2): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Nethaji St (Ward No.2): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Main Rd (Ward No.2): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar Bharathi St (Ward-02): Rs 1,300 per sq.ft (2024)
• Annai Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira Nagar (Ward-02)

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Indira Nagar (Ward-02)?

The Sub Registrar Office that covers Annai Indira Nagar (Ward-02) 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 Madhavaram

When buying or selling property in Madhavaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for the transaction value of properties in the area.

At the time of registration, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Annai Indira Nagar (Ward-02)?

The current guideline value of Annai Indira Nagar (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023 and increased to Rs 1,300 per sq.ft in 2024, marking an overall increase of 8% from 2012 to 2024.

What is the land classification of Annai Indira Nagar (Ward-02)?

Annai Indira Nagar (Ward-02) is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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 property in Annai Indira Nagar (Ward-02)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.