Guideline Value for Annai Velankanni Avenue

Annai Velankanni Avenue guideline value

The current guideline value of Annai Velankanni Avenue is Rs 1,006 per sq.ft, effective from 1 July 2024. This street is located in Chettimedu village under the Redhills SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Annai Velankanni Avenue has changed

The guideline value for Annai Velankanni Avenue has seen significant changes over the years. In 2003, the guideline value was Rs 18 per sq.ft, which increased to Rs 100 per sq.ft in 2007. The value then rose substantially to Rs 300 per sq.ft in 2012, but saw a decrease to Rs 201 per sq.ft in 2017. The value increased again to Rs 300 per sq.ft in 2023, and most recently, it rose dramatically to Rs 1,006 per sq.ft in the 2024 revision, marking a 235% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 5489%. The register has no figure for the year 2002 for this street.

Guideline values in Chettimedu

In Chettimedu, there are 26 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,008 per sq.ft, with a median of Rs 1,002 per sq.ft. Annai Velankanni Avenue's 2024 figure is above this median.

• Ananthi Nagar: Rs 1,002 per sq.ft (2024)
• Azhagiri Nagar: Rs 1,000 per sq.ft (2024)
• Baba Nagar: Rs 1,008 per sq.ft (2024)
• Bai Nagar: Rs 1,002 per sq.ft (2024)
• Bhanu Nagar: Rs 1,000 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,000 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 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total cost for these fees to Rs 90,540. Please note that 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 Velankanni Avenue?

The Sub Registrar Office that covers Annai Velankanni Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chettimedu. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. The guideline value ensures that the property is registered at a value that reflects the current market conditions as per the government regulations.

When you decide to buy or sell a property in Chettimedu, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. This value is updated periodically, and it is advisable to check the latest figures to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Annai Velankanni Avenue?

The current guideline value of Annai Velankanni Avenue is Rs 1,006 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 18 per sq.ft in 2003 to Rs 1,006 per sq.ft in 2024, representing an overall increase of 5489% over the years.

What is the land classification for Annai Velankanni Avenue?

Annai Velankanni Avenue is classified as Residential Class III Type - I according to the land classification standards.

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

For a property valued at Rs 10,06,000, the stamp duty would be Rs 70,420, and the registration fee would be Rs 20,120, totaling Rs 90,540.

Where is the Sub Registrar Office for Annai Velankanni Avenue located?

The Sub Registrar Office for Annai Velankanni Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.