Guideline Value for Annaiparasakthi Nagar, Lakshmipuram (Ward-26)

Annaiparasakthi Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Annaiparasakthi Nagar, Lakshmipuram (Ward-26) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this locality is Residential Class II Type - I.

How the guideline value of Annaiparasakthi Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for Annaiparasakthi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, by the 2023 revision, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 has further raised it to Rs 1,600 per sq.ft.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the current value for Annaiparasakthi Nagar.

• Annai Parasakthi Nagar Krishna Street: Rs 1,300 per sq.ft (2024)
• Annai Parasakthi Nagar ( Ward No.26 ): Rs 1,300 per sq.ft (2024)
• Annai Nagar: Rs 1,300 per sq.ft (2024)
• Annai Sathiya Nagar: Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar (Ward-02): Rs 1,300 per sq.ft (2024)
• Annai Indira Nagar V.O.C.St ( Ward No.2 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Annaiparasakthi Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. Please note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Annaiparasakthi Nagar, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Annaiparasakthi Nagar, Lakshmipuram (Ward-26) 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 buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees during the registration process. Buyers and sellers should be aware that the guideline value can influence the overall cost of transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Annaiparasakthi Nagar?

The current guideline value of Annaiparasakthi Nagar, Lakshmipuram (Ward-26) 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 2012 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 7% over this period.

What is the land classification for Annaiparasakthi Nagar?

Annaiparasakthi Nagar, Lakshmipuram (Ward-26) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Annaiparasakthi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.