Guideline Value for Annai Velankanni Nagar Extension

Annai Velankanni Nagar Extension guideline value

The current guideline value for Annai Velankanni Nagar Extension is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Jampuli village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Annai Velankanni Nagar Extension has changed

The guideline value has seen several revisions over the years. The 2012 revision recorded a value of Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it is set at Rs 2,200 per sq.ft from 1 July 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Jampuli

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

• Annai Velankanni Nagar: Rs 2,200 per sq.ft (2024)
• Annai Velankanai Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Annai Velankanai Nagar 1st Street: 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 Velankanni Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annai Velankanni Nagar Extension?

The Sub Registrar Office that covers Annai Velankanni Nagar Extension 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 Jampuli

The guideline value plays a crucial role in property transactions within Jampuli. It serves as a benchmark for determining the registration fees and stamp duty that buyers must pay when purchasing property. The guideline value is set by the Registration Department and is updated periodically based on various factors.

When selling property, the guideline value helps establish a fair price for registration purposes. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value for Annai Velankanni Nagar Extension?

The current guideline value for Annai Velankanni Nagar Extension 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 undergone several revisions, with the most recent being an increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. The value has fluctuated from Rs 2,000 in 2012 to Rs 1,340 in 2017, and then back up to Rs 2,200 in 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value per sq.ft.

Which office handles property registrations in Jampuli?

The Madhavaram Sub Registrar Office handles property registrations in Jampuli. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the registration fees and stamp duty payable during property transactions. It acts as a reference point for both buyers and sellers to ensure compliance with legal requirements.