Guideline Value for Annai Parasakthi Nagar Krishna Street

Annai Parasakthi Nagar Krishna Street guideline value

The current guideline value of Annai Parasakthi Nagar Krishna Street is Rs 1,300 per sq.ft. This street is located in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Annai Parasakthi Nagar Krishna Street has changed

The guideline value for Annai Parasakthi Nagar Krishna Street has undergone several revisions over the years. The earliest available revision is from 2012, which set the guideline value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent revision in 2024 has set it at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023. However, there was a significant drop of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the guideline value of Annai Parasakthi Nagar Krishna Street below that median.

• Annaiparasakthi Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Annai Parasakthi Nagar ( Ward No.26 ): 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 Krishna Street

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 stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Annai Parasakthi Nagar Krishna Street?

The Sub Registrar Office that covers Annai Parasakthi Nagar Krishna Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

When buying or selling property in Madhavaram, the guideline value is a critical factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which properties can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. This value is updated periodically, reflecting changes in the real estate market, and must be adhered to during the registration process.

Frequently asked questions

What is the current guideline value of Annai Parasakthi Nagar Krishna Street?

The current guideline value of Annai Parasakthi Nagar Krishna Street 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 changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Annai Parasakthi Nagar Krishna Street?

The land classification for Annai Parasakthi Nagar Krishna Street is Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Annai Parasakthi Nagar Krishna Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,300 per sq.ft, the stamp duty would be Rs 91,000.