Guideline Value for Annai Parasakthi Nagar ( Ward No.26 )

Annai Parasakthi Nagar ( Ward No.26 ) guideline value

The current guideline value of Annai Parasakthi Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Annai Parasakthi Nagar ( Ward No.26 ) has changed

Since the 2012 revision, the guideline value for Annai Parasakthi Nagar has seen an increase of 8%. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision. The 2023 revision also recorded the value at Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street in the register. Thus, the only revisions available are from 2012, 2023, and the current 2024 figures.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for Annai Parasakthi Nagar is below this median.

• Annaiparasakthi Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Annai Parasakthi Nagar Krishna Street: Rs 1,300 per sq.ft (2024)
• Annai Nagar: Rs 1,300 per sq.ft (2024)
• Annai Sathiya Nagar: Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar V.O.C.St ( Ward No.2 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Parasakthi Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The applicable stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Annai Parasakthi Nagar ( Ward No.26 )?

The Sub Registrar Office covering Annai Parasakthi Nagar ( Ward No.26 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a baseline for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government is compensated fairly during the registration process.

Frequently asked questions

What is the current guideline value of Annai Parasakthi Nagar?

The current guideline value of Annai Parasakthi Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. There was no change in the value from 2012 to 2023.

What is the land classification of Annai Parasakthi Nagar?

Annai Parasakthi Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations in the area.

How is stamp duty calculated in Annai Parasakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.