Guideline Value for Annamalai Avenue

Annamalai Avenue guideline value

The current guideline value of Annamalai Avenue in 1. Nolambur village is Rs 7,100 per sq.ft, effective from 1 July 2024. This property falls under the Villivakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Annamalai Avenue has changed

The guideline value for Annamalai Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 has raised this figure to Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 63%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Annamalai Avenue. The significant increase from 2017 to 2023 was 49%, reflecting a substantial change in the property valuation in this period.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The guideline value for Annamalai Avenue is equal to the median value of Rs 7,100 per sq.ft. Below are other streets in 1. Nolambur:

• Attrangarai Street: Rs 3,300 per sq.ft (2024)
• Aura Nandanandana: Rs 4,355 per sq.ft (2024)
• Abinayam Phase I & II: Rs 7,100 per sq.ft (2024)
• Chinnanolambur & Other Street: Rs 3,300 per sq.ft (2024)
• Church Street: Rs 3,300 per sq.ft (2024)
• Citilights Meadows: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Annamalai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 precise calculations.

Which Sub Registrar Office covers Annamalai Avenue?

The Sub Registrar Office that covers Annamalai Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in property transactions in 1. Nolambur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Annamalai Avenue?

The current guideline value of Annamalai Avenue is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 63%, starting from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024.

What is the land classification for Annamalai Avenue?

Annamalai Avenue is classified as Residential Special Type - I under the current guidelines.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.