Guideline Value for Annai Indira NagarBharathiar Street

Annai Indira NagarBharathiar Street guideline value

The current guideline value of Annai Indira NagarBharathiar 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 NagarBharathiar Street has changed

The guideline value for Annai Indira NagarBharathiar Street has seen several revisions over the years. In 2003, the value was Rs 963 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2007. The value then underwent a 100% increase to Rs 4,000 per sq.ft in 2012, but it decreased by 33% to Rs 2,680 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent revision in 2024 set it at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 357%, showcasing significant growth in this period.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 figure ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of Annai Indira NagarBharathiar Street.

• Annai Indira Nagar Avvaiyar Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Annai Theresa Street: Rs 4,400 per sq.ft (2024)
• Annai Indira Nagar Dutha 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 Extn Gopalan Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Indira NagarBharathiar 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, totaling Rs 3,96,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Indira NagarBharathiar Street?

The Sub Registrar Office that covers Annai Indira NagarBharathiar 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 during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, both parties must consider the guideline value to ascertain the applicable fees. It is important to note that the registration process will charge the higher amount between the guideline value and the sale price, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Annai Indira NagarBharathiar Street?

The current guideline value of Annai Indira NagarBharathiar 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 963 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 357% over this period.

What are the other streets in Velachery with the same guideline value?

Other streets in Velachery with a guideline value of Rs 4,400 per sq.ft include Annai Indira Nagar Avvaiyar Street, Annai Indira Nagar Annai Theresa Street, and Annai Indira Nagar Dutha Street, among others.

What is the registration fee for property in this area?

The registration fee for property in Annai Indira NagarBharathiar Street is calculated at 2% of the guideline value or sale price, whichever is higher.

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

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