Guideline Value for Annai Nagar

Annai Nagar guideline value

The current guideline value of Annai Nagar, located in Sothupakkam village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as 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 several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in 2012. However, this value decreased to Rs 268 per sq.ft in 2017. Subsequently, the value rose significantly to Rs 400 per sq.ft in 2023, and the latest revision in 2024 has increased it to Rs 440 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

The changes between the revisions illustrate a fluctuating trend. From 2007 to 2012, the value increased by 33%, but then decreased by 33% from 2012 to 2017. A significant increase of 49% occurred from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Sothupakkam

Sothupakkam village features 49 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 330 to Rs 1,150 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which aligns with the guideline value of Annai Nagar.

• Arunachalam Nagar: Rs 440 per sq.ft (2024)
• Bhajanaikovil Street: Rs 440 per sq.ft (2024)
• Bhavani Nagar: Rs 440 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 440 per sq.ft (2024)
• Don Nagar: Rs 330 per sq.ft (2024)
• Ganapathy Nagar: Rs 440 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty, calculated at 7%, would be Rs 30,800, while the registration fee at 2% would be Rs 8,800. Together, the total cost for these fees would be Rs 39,600. It is important to note that 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 that covers Annai Nagar is the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sothupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the buyer 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 the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and decreases across revisions in 2012, 2017, and 2023.

What is the land classification for Annai Nagar?

Annai Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where is the Sub Registrar Office located for Annai Nagar?

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

How is stamp duty calculated for property in Annai Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the same value.