Guideline Value for Annai Nagar

Annai Nagar guideline value

The current guideline value of Annai Nagar, located in Grandlyon village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Annai Nagar has changed

Over the years, the guideline value of Annai Nagar has seen significant changes. In 2003, the guideline value was Rs 50 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This was followed by a doubling to Rs 600 per sq.ft in 2012. However, from 2012 to 2017, the value dropped by 33% to Rs 402 per sq.ft. A substantial increase of 49% occurred from 2017 to 2023, bringing the value to Rs 600 per sq.ft. The most recent revision in 2024 saw an increase of 10%, resulting in the current guideline value of Rs 660 per sq.ft. It is important to note that the register has no figure for this street for the year 2002.

In summary, the changes between revisions are as follows: from 2003 to 2007, the guideline value increased by 500%; from 2007 to 2012, it increased by 100%; from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, it increased by 10%. Overall, the guideline value has risen by 1220% from 2003 to 2024.

Guideline values in Grandlyon

Grandlyon village has a range of guideline values across its 82 streets under the Redhills SRO, with values varying from Rs 440 to Rs 1,500 per sq.ft. The median guideline value is Rs 660 per sq.ft, which is equal to the current value of Annai Nagar.

• Anna Street: Rs 880 per sq.ft (2024)
• Ambedkar Street: Rs 880 per sq.ft (2024)
• Bajanai Koil Street: Rs 660 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)
• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathi Nagar: 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty, charged at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200. Together, the total fees would amount to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Annai Nagar?

The Sub Registrar Office that covers Annai Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Grandlyon. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must ensure that they are aware of the current guideline value as it directly impacts the financial obligations associated with the purchase. Understanding the guideline value can help buyers plan their budgets more effectively and avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, with various increases and decreases over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 59,400, based on the guideline value of Rs 6,60,000.

Which Sub Registrar Office covers Annai Nagar?

The Redhills Sub Registrar Office covers Annai Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is charged on the higher of the guideline value or the sale price.