Guideline Value for Annai Sathiya Nagar 3rd Street

Annai Sathiya Nagar 3rd Street guideline value

The current guideline value of Annai Sathiya Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Annai Sathiya Nagar 3rd Street has changed

The guideline value for Annai Sathiya Nagar 3rd Street has seen several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% increase. However, this value decreased to Rs 1,675 per sq.ft in 2017, reflecting a 33% decline. The most recent revision in 2024 brought the value back up to Rs 2,700 per sq.ft, representing a 61% increase from the 2017 figure.

It is important to note that the register does not have figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Annai Sathiya Nagar 3rd Street is below this median.

• Annai Sathiya Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Annai Sathiya Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Annai Sathiya Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Annai Nagar: Rs 2,700 per sq.ft (2024)
• Annai Tharesa Nagar: Rs 2,700 per sq.ft (2024)
• Annai Indira Nagar Extension: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathiya Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that 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 details.

Which Sub Registrar Office covers Annai Sathiya Nagar 3rd Street?

The Sub Registrar Office that covers Annai Sathiya Nagar 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Kolathur. 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 and to calculate the applicable stamp duty and registration fees.

When a property is sold, the registration office utilizes the guideline value to assess the transaction's legitimacy. This ensures that the property is not undervalued, which could lead to discrepancies in tax collection and property records.

Frequently asked questions

What is the current guideline value of Annai Sathiya Nagar 3rd Street?

The current guideline value of Annai Sathiya Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286%.

What is the land classification for Annai Sathiya Nagar 3rd Street?

Annai Sathiya Nagar 3rd Street falls under the Residential Class II Type - I land classification.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a property valued at Rs 27,00,000, the total fees would be Rs 2,43,000.

Where is the Sub Registrar Office located for this area?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Annai Sathiya Nagar 3rd Street.