Guideline Value for Annai Velankanni Avenue

Annai Velankanni Avenue guideline value

The current guideline value of Annai Velankanni Avenue is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and falls under the land classification of Mixed Special Type - II.

How the guideline value of Annai Velankanni Avenue has changed

The guideline value for Annai Velankanni Avenue has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 3,900 per sq.ft. This was followed by a decrease to Rs 2,613 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 3,900 per sq.ft in 2023, and further rose to the current value of Rs 4,290 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Annai Velankanni Avenue's 2024 figure above this median.

• Annai Sathya Nagar Vth Street: Rs 3,520 per sq.ft (2024)
• Annai Sathya Nagar VIth Street: Rs 3,520 per sq.ft (2024)
• Annai Sathya Nagar VII th street: Rs 3,960 per sq.ft (2024)
• Annai Sathya Nagar VIII th street: Rs 3,520 per sq.ft (2024)
• Annai Sathya Nagar IVth Street: Rs 3,960 per sq.ft (2024)
• Annai Sathya Nagar Ist Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Velankanni Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value amounts to Rs 42,90,000. The stamp duty at 7% would be Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, bringing the total to Rs 3,86,100. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Annai Velankanni Avenue?

The Sub Registrar Office that covers Annai Velankanni Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is an important factor in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Annai Velankanni Avenue?

The current guideline value of Annai Velankanni Avenue is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,900 per sq.ft in 2012 to Rs 2,613 per sq.ft in 2017, then back to Rs 3,900 per sq.ft in 2023, and finally to Rs 4,290 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 42,90,000. The stamp duty would be Rs 3,00,300 and the registration fee would be Rs 85,800, totaling Rs 3,86,100.

Which office handles property registrations for Annai Velankanni Avenue?

The Kunrathur Sub Registrar Office handles property registrations for Annai Velankanni Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of guideline value in property transactions?

The guideline value is used as a reference point for determining the minimum registration value of a property. It helps in calculating the stamp duty and registration fees during property transactions in Porur.