Guideline Value for Annai Velankanni Nagar

Annai Velankanni Nagar guideline value

The current guideline value of Annai Velankanni Nagar is Rs 2,300 per sq.ft, effective from 1 July 2024. This area is located in Sowripalayam village, under the Peelamedu SRO, and is classified as Residential Class III Type - I.

How the guideline value of Annai Velankanni Nagar has changed

The guideline value for Annai Velankanni Nagar has seen several revisions over the years. In 2002, the value was Rs 253 per sq.ft, which increased to Rs 286 per sq.ft in 2003. The value then rose significantly to Rs 553 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,300 per sq.ft in 2024.

The changes between these revisions highlight the fluctuations in the guideline value. From 2002 to 2024, there has been an overall increase of 809%. Notably, the increase from 2023 to 2024 was 15%, while the jump from 2017 to 2023 was 49%. The value saw a decrease of 33% between 2012 and 2017, and a remarkable rise of 262% from 2007 to 2012.

Guideline values in Sowripalayam

Sowripalayam village has a total of 186 streets under the Peelamedu SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 7,800 per sq.ft. The median guideline value for the area is Rs 2,300 per sq.ft, which is the same as the current value for Annai Velankanni Nagar.

• Annamalai Nagar: Rs 2,300 per sq.ft (2024)
• Annamar Kovil Street(Peelamedu Pudhur): Rs 2,300 per sq.ft (2024)
• Anna Nagar: Rs 3,520 per sq.ft (2024)
• Anantha Thiruvenkatasamy Street: Rs 2,300 per sq.ft (2024)
• Appulu Ayyar Road or Lane: Rs 2,300 per sq.ft (2024)
• Ara Gounder Street: Rs 1,010 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 2,300 per sq.ft, the total guideline value would be Rs 23,00,000. The stamp duty at 7% would amount to Rs 1,61,000, and the registration fee at 2% would be Rs 46,000, making the total cost for these fees Rs 2,07,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Peelamedu Sub Registrar Office, located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sowripalayam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is officially recorded and that the necessary taxes are paid. This process helps maintain transparency and legality in 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 2,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 253 per sq.ft in 2002 to Rs 2,300 per sq.ft in 2024, showing an overall increase of 809% over the years.

What is the land classification of Annai Velankanni Nagar?

Annai Velankanni Nagar is classified as Residential Class III Type - I.

Where is the Peelamedu Sub Registrar Office located?

The Peelamedu Sub Registrar Office is located at 6/1, Grd Road, Redfields, Coimbatore - 18, in the Coimbatore registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 23,00,000, the total fees would amount to Rs 2,07,000.