Guideline Value for Annai Sathiya Nagar

Annai Sathiya Nagar guideline value

The current guideline value of Annai Sathiya Nagar 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 Sathiya Nagar has changed

The guideline value for Annai Sathiya Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 shows a significant increase to Rs 1,300 per sq.ft, representing a 62% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 values, there has been a slight increase of 8%. It is important to note that the guideline value register does not contain figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values 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, positioning Annai Sathiya Nagar's 2024 figure below this median.

• Annai Parasakthi Nagar (Ward No.26): Rs 1,300 per sq.ft (2024)
• 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 Sathya Nagar Roads (Ward No.20): Rs 1,300 per sq.ft (2024)
• Annai Sivasakthi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathiya Nagar

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 or the sale price.

You can use the stamp duty and registration fee calculator for more details on calculating the fees.

Which Sub Registrar Office covers Annai Sathiya Nagar?

The Sub Registrar Office that covers Annai Sathiya Nagar 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 serves as a benchmark for determining the minimum value at which the property can be registered. This value is crucial for calculating stamp duty and registration fees, which are mandatory during the property transfer process.

It is essential for both buyers and sellers to be aware of the guideline value, as it directly affects the overall costs involved in the transaction. Ensuring that the property is registered at or above the guideline value helps in avoiding legal complications and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value in Annai Sathiya Nagar?

The current guideline value in Annai Sathiya Nagar 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, and then increased to Rs 1,300 per sq.ft in 2024. Overall, there has been an 8% increase from 2012 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I approach for property registration?

The Madhavaram Sub Registrar Office is responsible for property registrations in Annai Sathiya Nagar. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Are there any revisions without figures for Annai Sathiya Nagar?

Yes, the register does not contain figures for Annai Sathiya Nagar for the years 2023, 2007, 2003, and 2002.