Guideline Value for Annai Velangannai Nagar

Annai Velangannai Nagar guideline value

The current guideline value of Annai Velangannai Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Annai Velangannai Nagar has changed

Over the years, the guideline value of Annai Velangannai Nagar has seen significant changes. The 2017 revision recorded a value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 59%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values 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, which is equal to the guideline value of Annai Velangannai Nagar.

• 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)
• Annai Velankanni Nagar (Ward-16): Rs 1,600 per sq.ft (2024)
• Annai Sivasakthi Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Annai Sivasakthi Nagar Extension (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Annai Sivasakthi Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Velangannai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Velangannai Nagar?

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

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Annai Velangannai Nagar?

The current guideline value of Annai Velangannai Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59% over this period.

What is the land classification of Annai Velangannai Nagar?

Annai Velangannai Nagar is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Madhavaram Sub Registrar Office located?

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