Guideline Value for Annai Theresa Nagar 7th Street

Annai Theresa Nagar 7th Street guideline value

The current guideline value for Annai Theresa Nagar 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

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

The guideline value for Annai Theresa Nagar 7th Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was a significant increase from previous years, although the register has no figures for the years 2002, 2003, 2007, and 2012. In 2023, the value rose to Rs 2,000 per sq.ft, marking a 49% increase from the 2017 figure. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 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%. This consistent rise indicates the changing landscape of property values in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Annai Theresa Nagar 7th Street's 2024 figure below that median.

• Annai Theresa Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Extension: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Theresa 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Annai Theresa Nagar 7th Street?

The Sub Registrar Office that covers Annai Theresa Nagar 7th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

Additionally, the guideline value helps maintain transparency in property transactions, providing a benchmark for buyers and sellers to refer to during negotiations. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Annai Theresa Nagar 7th Street?

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

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking a 64% overall increase.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which means the guideline value for Annai Theresa Nagar 7th Street is below this median.

What are the stamp duty and registration fees for properties in Annai Theresa Nagar 7th Street?

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

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.