Guideline Value for Annai Velankanni Nagar (Ward-16)

Annai Velankanni Nagar (Ward-16) guideline value

The current guideline value of Annai Velankanni Nagar (Ward-16) 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 Velankanni Nagar (Ward-16) has changed

Over the years, the guideline value of Annai Velankanni Nagar has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then revised to Rs 1,005 per sq.ft in 2017. This marked a decrease of 33%. However, the value saw a significant increase of 49% in the 2023 revision, bringing it up to Rs 1,500 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, reflecting a rise of 7% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Annai Velankanni Nagar.

• Annaivelankanni Nagar 2nd St (Ward-16): Rs 1,600 per sq.ft (2024)
• Annaivelankanni Nagar 1st St (Ward-16): Rs 1,600 per sq.ft (2024)
• Annai Velangannai Nagar: 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 Velankanni Nagar (Ward-16)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Velankanni Nagar (Ward-16)?

The Sub Registrar Office that covers Annai Velankanni Nagar (Ward-16) 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 registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

At the time of registration, the guideline value is used to calculate stamp duty and registration fees, which are essential costs associated with property transactions. It is important to be aware of these fees as they can significantly impact the overall cost of purchasing or selling property.

Frequently asked questions

What is the current guideline value of Annai Velankanni Nagar (Ward-16)?

The current guideline value of Annai Velankanni Nagar (Ward-16) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, an increase of 7%. It was Rs 1,005 per sq.ft in 2017, which was a decrease from Rs 1,500 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Annai Velankanni Nagar?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Annai Velankanni Nagar?

The Madhavaram Sub Registrar Office covers Annai Velankanni Nagar (Ward-16), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Annai Velankanni Nagar?

Annai Velankanni Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development.