Guideline Value for Annai Theresa Nagar Phase II 14th Street

Annai Theresa Nagar Phase II 14th Street guideline value

The current guideline value for Annai Theresa Nagar Phase II 14th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the 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 14th Street has changed

Over the years, the guideline value for Annai Theresa Nagar Phase II 14th Street has seen significant revisions. The 2017 revision set the value at Rs 1,340 per sq.ft. This was followed by an increase to Rs 2,000 per sq.ft in the 2023 revision, 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 risen by 64%.

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

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, with a median value of Rs 2,750 per sq.ft. The guideline value for Annai Theresa Nagar Phase II 14th Street is below this median.

• Annai Theresa Nagar Phase II 13th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 15th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 12th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II Extn: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase II 11th Street: Rs 2,200 per sq.ft (2024)
• Annai Theresa Nagar Phase III: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Theresa Nagar Phase II 14th 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, making the total cost 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.

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

Which Sub Registrar Office covers Annai Theresa Nagar Phase II 14th Street?

The Sub Registrar Office that covers Annai Theresa Nagar Phase II 14th 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 information.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in the transaction process. This ensures that the government receives its due revenue from property sales.

Frequently asked questions

What is the current guideline value for Annai Theresa Nagar Phase II 14th Street?

The current guideline value for Annai Theresa Nagar Phase II 14th 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over the years.

What is the land classification for Annai Theresa Nagar Phase II 14th Street?

The land classification for Annai Theresa Nagar Phase II 14th Street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties 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 can I find the Sub Registrar Office for this street?

The Velacheri Sub Registrar Office covers Annai Theresa Nagar Phase II 14th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.