Guideline Value for Annai Indira Nagar Kamarajar Street

Annai Indira Nagar Kamarajar Street guideline value

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

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

The guideline value for Annai Indira Nagar Kamarajar Street has seen several revisions over the years. In 2002, the value was Rs 362 per sq.ft, which increased to Rs 411 per sq.ft in 2003. Following that, the value surged significantly to Rs 1,800 per sq.ft in 2007, marking a substantial increase of 338%. The value then rose to Rs 4,000 per sq.ft in 2012, reflecting a 122% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1115%. The register does not have figures for any other years for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with the median value being Rs 4,400 per sq.ft. Annai Indira Nagar Kamarajar Street's 2024 figure aligns with this median value.

• Annai Indira Nagar Kamatchi Amman Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar, Gopal Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Kamathci Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Extn Gopalan Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Kambar Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Karikalan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira Nagar Kamarajar 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 amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Indira Nagar Kamarajar Street?

The Sub Registrar Office that covers Annai Indira Nagar Kamarajar 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 details.

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

When buying or selling property in Velachery, the guideline value plays a crucial role in determining the registration charges. Buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall costs associated with property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Annai Indira Nagar Kamarajar Street?

The current guideline value of Annai Indira Nagar Kamarajar 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 362 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1115% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for this street?

The Velacheri Sub Registrar Office handles property registrations for Annai Indira Nagar Kamarajar Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the correct amount is paid based on the property's value as assessed by the government.