Guideline Value for Annai Velankanai Nagar 1st Street

Annai Velankanai Nagar 1st Street guideline value

The current guideline value of Annai Velankanai Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village and falls under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Annai Velankanai Nagar 1st Street has changed

The guideline value for Annai Velankanai Nagar 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft. Between 2012 and 2024, there has been an overall increase of 10%.

From 2017 to 2023, the value rose by 49%, while from 2012 to 2017, there was a decline of 33%. The change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, indicating that the guideline value of Annai Velankanai Nagar 1st Street is below this median.

• Annai Velankanai Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 2,200 per sq.ft (2024)
• Annai Velankanni Nagar Extension: Rs 2,200 per sq.ft (2024)
• Arul Nagar: Rs 2,200 per sq.ft (2024)
• Arul Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Association Cross Street / Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Velankanai Nagar 1st 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 the stamp duty and registration fee calculator to estimate your fees based on the property value.

Which Sub Registrar Office covers Annai Velankanai Nagar 1st Street?

The Sub Registrar Office that covers Annai Velankanai Nagar 1st Street 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 Jampuli

The guideline value plays a crucial role in the registration process when buying or selling property in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the fees are reflective of the property's value as recognized by the government.

Frequently asked questions

What is the current guideline value of Annai Velankanai Nagar 1st Street?

The current guideline value of Annai Velankanai Nagar 1st 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Annai Velankanai Nagar 1st Street?

Annai Velankanai Nagar 1st Street is classified as Residential Class II Type - I.

What is the registration office for properties in Jampuli?

The registration office for properties in Jampuli is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7% of the guideline value or sale price, along with a registration fee of 2%.