Guideline Value for Annai Nagar

Annai Nagar guideline value

The current guideline value of Annai Nagar, located in Vadaperumbakkam village under the Redhills SRO, is Rs 1,004 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Annai Nagar has changed

The guideline value for Annai Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 38 per sq.ft, which increased to Rs 300 per sq.ft in 2007. By 2012, it rose to Rs 600 per sq.ft, but then decreased to Rs 402 per sq.ft in 2017. The value further increased to Rs 600 per sq.ft in 2023 before reaching the current rate of Rs 1,004 per sq.ft in 2024. Notably, there is no figure available for this street in the 2002 revision.

Between the revisions, the changes were as follows: from 2003 to 2007, the increase was +689%; from 2007 to 2012, it was +100%; however, it decreased by -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and the most recent change from 2023 to 2024 is +67%. Overall, from 2003 to 2024, the guideline value has increased by +2542%.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. Annai Nagar's 2024 figure of Rs 1,004 per sq.ft is above this median.

• Annai Avenue: Rs 1,006 per sq.ft (2024)
• Anbu Valarmathi Nagar: Rs 1,000 per sq.ft (2024)
• Balaji Nagar: Rs 1,004 per sq.ft (2024)
• Bhuvaneswari Avenue: Rs 1,004 per sq.ft (2024)
• Buneshwari Nagar: Rs 1,006 per sq.ft (2024)
• Chelliyamman Nagar: Rs 1,003 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 1,004 per sq.ft, the total guideline value would be Rs 10,04,000. The stamp duty, charged at 7%, would amount to Rs 70,280, while the registration fee at 2% would be Rs 20,080. Together, the total cost for stamp duty and registration fee would be Rs 90,360. It is important to 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 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Vadaperumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annai Nagar?

The current guideline value of Annai Nagar is Rs 1,004 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 38 per sq.ft in 2003 to Rs 1,004 per sq.ft in 2024, reflecting an overall increase of +2542% over the years.

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

For a property valued at Rs 10,04,000, the stamp duty would be Rs 70,280 and the registration fee would be Rs 20,080, totaling Rs 90,360.

Which Sub Registrar Office is responsible for Annai Nagar?

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

What is the land classification for Annai Nagar?

Annai Nagar falls under the Residential Class II Type - I land classification, which is relevant for property registration and valuation.