Guideline Value for Annai Sathya Nagar 7th Street

Annai Sathya Nagar 7th Street guideline value

The current guideline value for Annai Sathya Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village, under the Virugambakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Annai Sathya Nagar 7th Street has changed

The guideline value for Annai Sathya Nagar 7th Street has seen significant changes over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 235 per sq.ft. This increased to Rs 259 per sq.ft in 2003, marking a 10% rise. In 2007, the value jumped to Rs 500 per sq.ft, reflecting a substantial increase of 93%. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, which was a remarkable increase of 300% from the previous figure.

From 2012 to 2017, the guideline value decreased to Rs 1,340 per sq.ft, representing a decline of 33%. However, this was followed by a strong increase to Rs 2,000 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year.

Guideline values in Nesapakkam

Nesapakkam village has a total of 148 streets under the Virugambakkam SRO, with 2024 guideline values 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 7th Street's 2024 figure below that median.

• Annai Sathya Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Annai Sathya Nagar 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sathya Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. Please 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 Sathya Nagar 7th Street?

The Sub Registrar Office that covers Annai Sathya Nagar 7th Street 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 crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Annai Sathya Nagar 7th Street?

The current guideline value of Annai Sathya Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 235 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 836% over the years.

What is the land classification for Annai Sathya Nagar 7th Street?

Annai Sathya Nagar 7th Street is classified as Residential Class III Type - I.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office located for this street?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.