Guideline Value for Annai Sathya Nagar 1st Main Road

Annai Sathya Nagar 1st Main Road guideline value

The current guideline value of Annai Sathya Nagar 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Annai Sathya Nagar 1st Main Road has changed

The guideline value for Annai Sathya Nagar 1st Main Road has undergone several revisions over the years. In 2002, the guideline value was Rs 300 per sq.ft, which increased to Rs 330 per sq.ft in 2003. Following this, the value rose significantly to Rs 500 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017, before increasing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the guideline value has increased by 817%. The change from 2023 to 2024 reflects a 10% increase. The period from 2017 to 2023 saw a substantial increase of 49%. The value decreased by 33% from 2012 to 2017, while it rose dramatically by 400% from 2007 to 2012. Additionally, there was a 52% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. The register has no figure for this street in the years not mentioned.

Guideline values in Nesapakkam

Nesapakkam village has 148 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing Annai Sathya Nagar 1st Main Road below this median.

• Annai Sathya Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 13th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 12th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Annai Sathya Nagar 11th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathya Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 Sathya Nagar 1st Main Road?

The Sub Registrar Office that covers Annai Sathya Nagar 1st Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to assess the transaction value for taxation purposes. If the sale price exceeds the guideline value, the duty is calculated based on the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Annai Sathya Nagar 1st Main Road?

The current guideline value of Annai Sathya Nagar 1st Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 300 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for properties in Annai Sathya Nagar 1st Main Road?

The Virugambakkam Sub Registrar Office handles registrations for properties in Annai Sathya Nagar 1st Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It serves as a benchmark for tax assessment, ensuring compliance with legal requirements when buying or selling property.