Guideline Value for Annaivelankanni Nagar 1st St (Ward-16)

Annaivelankanni Nagar 1st St (Ward-16) guideline value

The current guideline value of Annaivelankanni Nagar 1st St (Ward-16) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Annaivelankanni Nagar 1st St (Ward-16) has changed

Over the years, the guideline value for Annaivelankanni Nagar 1st St has seen several revisions. The earliest recorded value in 2012 was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value is Rs 1,600 per sq.ft, which is the same as the current value for Annaivelankanni Nagar 1st St.

• Annaivelankanni Nagar 2nd St (Ward-16): Rs 1,600 per sq.ft (2024)
• Annai Velankanni Nagar (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 Annaivelankanni Nagar 1st St (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 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Annaivelankanni Nagar 1st St (Ward-16)?

The Sub Registrar Office that covers Annaivelankanni Nagar 1st St (Ward-16) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. 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 compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Annaivelankanni Nagar 1st St?

The current guideline value of Annaivelankanni Nagar 1st St (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 2012 to Rs 1,600 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for Annaivelankanni Nagar 1st St?

The land classification for Annaivelankanni Nagar 1st St is Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Madhavaram?

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