Guideline Value for Annai Indira Nagar Bharathi St (Ward-02)

Annai Indira Nagar Bharathi St (Ward-02) guideline value

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

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

Over the years, the guideline value of Annai Indira Nagar Bharathi St has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was again Rs 1,200 per sq.ft, but with the 2024 revision, it increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Annai Indira Nagar Bharathi St's 2024 value is below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to 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 or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Annai Indira Nagar Bharathi St (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

The guideline value is an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the registration department.

When a property transaction occurs, the guideline value helps in maintaining transparency and consistency in property dealings, allowing both buyers and sellers to understand the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value for Annai Indira Nagar Bharathi St (Ward-02)?

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

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 8% over this period.

What is the land classification for Annai Indira Nagar Bharathi St (Ward-02)?

Annai Indira Nagar Bharathi St (Ward-02) is classified under Residential Class III Type - I.

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 properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,00,000 would incur a stamp duty of Rs 91,000 at a rate of 7%.