Guideline Value for Annai Theresa Nagar Phase II 12th Street

Annai Theresa Nagar Phase II 12th Street guideline value

The current guideline value of Annai Theresa Nagar Phase II 12th 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Annai Theresa Nagar Phase II 12th Street has changed

The guideline value for Annai Theresa Nagar Phase II 12th Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This was followed by a significant increase in the 2023 revision to Rs 2,000 per sq.ft, marking a 49% rise from the previous figure. The most recent revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Annai Theresa Nagar Phase II 12th Street's value below this median.

• Annai Theresa Nagar Phase II 11th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 13th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 14th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase I: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 15th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Theresa Nagar Phase II 12th 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 fees to Rs 1,98,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Annai Theresa Nagar Phase II 12th Street?

The Sub Registrar Office that covers Annai Theresa Nagar Phase II 12th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

When buying or selling property in Madipakkam-1, the guideline value plays a crucial role in determining the registration fees and stamp duty. The value is used to calculate the fees that must be paid at the time of registration, ensuring that all transactions are recorded accurately in accordance with the law.

It is essential for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Proper understanding of this value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Annai Theresa Nagar Phase II 12th Street?

The current guideline value of Annai Theresa Nagar Phase II 12th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Annai Theresa Nagar Phase II 12th Street?

The land classification for Annai Theresa Nagar Phase II 12th Street is Residential Class II Type - I.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 that share the same guideline value of Rs 2,200 per sq.ft include Annai Theresa Nagar Phase II 11th Street, Annai Theresa Nagar Phase II 13th Street, Annai Theresa Nagar Phase II, Annai Theresa Nagar Phase II 14th Street, Annai Theresa Nagar Phase I, and Annai Theresa Nagar Phase II 15th Street.

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.