Guideline Value for Annai Nagar-V

Annai Nagar-V guideline value

The current guideline value of Annai Nagar-V is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Annai Nagar-V has changed

Over the years, the guideline value of Annai Nagar-V has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision recorded a lower value of Rs 335 per sq.ft, marking a decrease of 33% from the previous 2012 figure. The most recent revision in 2024 has kept the value stable at Rs 500 per sq.ft, showing no change from the 2023 revision.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Overall, comparing the 2012 figure to the current 2024 value, there has been no change, as both years reflect a guideline value of Rs 500 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Molachoor

In Molachoor village, there are 112 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 600 per sq.ft. Annai Nagar-V's current guideline value is below this median.

• Annai Nagar-IV: Rs 500 per sq.ft (2024)
• Annai Nagar-III: Rs 500 per sq.ft (2024)
• Annai Nagar -II: Rs 500 per sq.ft (2024)
• Annai Santhiya Nagar: Rs 605 per sq.ft (2024)
• Annai Nagar-I: Rs 500 per sq.ft (2024)
• Annai Santhiya Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Nagar-V

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, totaling Rs 35,000, and the registration fee is 2%, amounting to Rs 10,000. Together, the total cost for these fees is Rs 45,000. It is important to note that the 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 Nagar-V?

The Sub Registrar Office that covers Annai Nagar-V is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Molachoor, the guideline value is a critical factor used during the registration process. It serves as a reference point for determining the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the legal obligations associated with the transaction.

The guideline value helps maintain transparency in property transactions, as it provides a standardized valuation that is recognized by the registration authorities. This system aids in preventing underreporting of property values, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annai Nagar-V?

The current guideline value of Annai Nagar-V is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification of Annai Nagar-V?

Annai Nagar-V is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Annai Nagar-V?

For a property valued at Rs 5,00,000, the stamp duty is Rs 35,000 and the registration fee is Rs 10,000, totaling Rs 45,000.

Which office manages the registration for Annai Nagar-V?

The registration for Annai Nagar-V is managed by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.