Guideline Value for Annai Sathiya Street (M.G.R.Nagar)

Annai Sathiya Street (M.G.R.Nagar) guideline value

The current guideline value of Annai Sathiya Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Annai Sathiya Street (M.G.R.Nagar) has changed

Over the years, the guideline value for Annai Sathiya Street has seen several revisions. The 2017 revision set the value at Rs 2,010 per sq.ft. This figure was increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Annai Sathiya Street's 2024 figure below this median.

• Annai Sathiya Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathiya Street (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Sathiya Street (M.G.R.Nagar)?

The Sub Registrar Office covering Annai Sathiya Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor when registering a property in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that the guideline value can differ from the actual sale price, and the higher of the two is used for fee calculations.

When selling property, the guideline value provides a reference point for determining the minimum price at which a property can be registered. This ensures that all transactions are documented at a value that reflects the official assessment of the property’s worth.

Frequently asked questions

What is the current guideline value of Annai Sathiya Street (M.G.R.Nagar)?

The current guideline value of Annai Sathiya Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for a property on this street?

For a property of 1,000 sq.ft at the guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Annai Sathiya Street (M.G.R.Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Annai Sathiya Street (M.G.R.Nagar)?

The land classification for Annai Sathiya Street (M.G.R.Nagar) is Residential Class IV Type - II.