Guideline Value for Annai Nagar

Annai Nagar guideline value

The current guideline value of Annai Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sundaracholavaram village, under the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Annai Nagar has changed

The guideline value for Annai Nagar has undergone several revisions over the years. The earliest available figure is from 2007, set at Rs 175 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a rise of 186%. However, it then decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 500 per sq.ft in 2023, followed by a further increase to Rs 550 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 214%. There are no available figures for the revisions in 2002 and 2003 for this street.

Guideline values in Sundaracholavaram

In Sundaracholavaram, there are 57 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,600 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Annai Nagar's current value below this median.

• Amman Koil Street: Rs 550 per sq.ft (2024)
• Aravind Nagar: Rs 660 per sq.ft (2024)
• Aravind Nagar Annexe: Rs 880 per sq.ft (2024)
• Aravind Nagar Extension: Rs 660 per sq.ft (2024)
• Avadi Paruthippattu Road: Rs 660 per sq.ft (2024)
• AzhagarSwamy Nager: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Nagar?

The Sub Registrar Office covering Annai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process of property transactions in Sundaracholavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in a legal context. It is essential for buyers to be aware of the guideline value to ensure compliance with registration requirements and to avoid potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What are the stamp duty and registration fees for properties in Annai Nagar?

The stamp duty for properties in Annai Nagar is 7%, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 49,500.

Which Sub Registrar Office is responsible for Annai Nagar?

The Kunrathur Sub Registrar Office is responsible for Annai Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for property registration, determining the minimum value for transactions. It ensures that the appropriate stamp duty and registration fees are collected by the government during property sales.