Guideline Value for Annai Velankanni Nagar

Annai Velankanni Nagar guideline value

The current guideline value of Annai Velankanni Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Annai Velankanni Nagar has changed

The guideline value for Annai Velankanni Nagar has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 225 per sq.ft. This increased to Rs 278 per sq.ft in 2003, marking a rise of 24%. By 2007, the value had significantly jumped to Rs 900 per sq.ft, reflecting a substantial increase of 224%. In 2012, the guideline value was revised to Rs 3,500 per sq.ft, showing a notable increase of 289% from the previous figure. However, this value saw a decrease of 33% to Rs 2,345 per sq.ft in 2017.

From 2017 to 2023, the guideline value experienced a significant increase of 49%, reaching Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which is an 11% increase from the previous year. There are no figures available for the years not mentioned in the revisions for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for this area is Rs 3,900 per sq.ft, which matches the 2024 figure for Annai Velankanni Nagar.

• Apmen 1st Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Apmen 2nd Street (Hoppman Street): Rs 5,000 per sq.ft (2024)
• Apmen 3rd Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Apmen 4th Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Apmen 5th Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Andal Nagar Extension: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Annai Velankanni Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annai Velankanni Nagar?

The Sub Registrar Office that covers Annai Velankanni Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the guideline value as it impacts the overall costs involved in the registration process. Proper understanding of these values ensures that buyers and sellers can prepare for the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Annai Velankanni Nagar?

The current guideline value of Annai Velankanni Nagar is Rs 3,900 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 225 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1633% over the years.

What is the registration office for Annai Velankanni Nagar?

The registration office for Annai Velankanni Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated in Annai Velankanni Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value.

What are the other streets in Adambakkam with similar guideline values?

Other streets in Adambakkam, such as Apmen 1st Street, Apmen 3rd Street, and Apmen 4th Street, also have a guideline value of Rs 3,900 per sq.ft for 2024, reflecting the median value for the area.