Guideline Value for Annai Sivasakthi Nagar

Annai Sivasakthi Nagar guideline value

The current guideline value of Annai Sivasakthi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This locality is situated in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Annai Sivasakthi Nagar has changed

The guideline value of Annai Sivasakthi Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft from the 2024 revision, reflecting an 8% increase from the previous year.

Between the revisions, there were notable changes. From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value 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, placing Annai Sivasakthi Nagar's 2024 figure below that median.

• Annai Sivasakthi Nagar Extension (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Annai Sivasakthi Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Annai Sathya Nagar Roads (Ward No.20): Rs 1,300 per sq.ft (2024)
• Annai Velangannai Nagar: Rs 1,600 per sq.ft (2024)
• Annaivelankanni Nagar 1st St (Ward-16): Rs 1,600 per sq.ft (2024)
• Annaivelankanni Nagar 2nd St (Ward-16): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Sivasakthi 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, charged at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Sivasakthi Nagar?

The Sub Registrar Office that covers Annai Sivasakthi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of Annai Sivasakthi Nagar?

The current guideline value of Annai Sivasakthi 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, then to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft in 2024.

What is the land classification of Annai Sivasakthi Nagar?

Annai Sivasakthi Nagar is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Annai Sivasakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.