Guideline Value for Annai Indira Nagar Avvaiyar Street

Annai Indira Nagar Avvaiyar Street guideline value

The current guideline value for Annai Indira Nagar Avvaiyar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of Annai Indira Nagar Avvaiyar Street has changed

The guideline value for Annai Indira Nagar Avvaiyar Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 423 per sq.ft. It increased significantly to Rs 1,800 per sq.ft in 2007, marking a 326% rise. The value then rose to Rs 4,000 per sq.ft in 2012, which was a 122% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a 33% drop. The guideline value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 940%. It is important to note that there is no figure available for the 2002 revision for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the current value for Annai Indira Nagar Avvaiyar Street.

• Annai Indira Nagar Annai Theresa Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Bharathiar Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 2nd Cross Street, Sasthri Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Dutha Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira Nagar Avvaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that 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 Avvaiyar Street?

The Sub Registrar Office that covers Annai Indira Nagar Avvaiyar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the financial implications involved.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This process ensures compliance with the regulations set by the Registration Department, providing a clear framework for property transactions.

Frequently asked questions

What is the current guideline value for Annai Indira Nagar Avvaiyar Street?

The current guideline value for Annai Indira Nagar Avvaiyar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 423 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 940% over the years.

What is the land classification for Annai Indira Nagar Avvaiyar Street?

Annai Indira Nagar Avvaiyar Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Annai Indira Nagar Avvaiyar Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000.