Guideline Value for Annamalai Colony

Annamalai Colony guideline value

The current guideline value of Annamalai Colony, located in Virugambakkam village under the Virugambakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Annamalai Colony has changed

The guideline value of Annamalai Colony has seen significant changes over the years. Starting from the 2002 revision, the value was Rs 327 per sq.ft. This increased to Rs 1,000 per sq.ft in 2003, marking a substantial rise of 206%. The 2007 revision saw a further increase to Rs 1,450 per sq.ft, which was a 45% increase from the previous year. In 2012, the value rose to Rs 5,000 per sq.ft, reflecting a remarkable increase of 245% from 2007. However, the 2017 revision saw a decrease to Rs 3,350 per sq.ft, a decline of 33% from 2012. The value then increased to Rs 5,000 per sq.ft in 2023, followed by another rise to Rs 5,500 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1582%. Notably, there are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Annamalai Colony's 2024 figure above this median.

• Anna Main Road: Rs 7,150 per sq.ft (2024)
• Annaji Rao Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Annaji Rao Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Annaji Rao Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Annaji Rao Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Annaji Rao Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Annamalai Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annamalai Colony?

The Sub Registrar Office that covers Annamalai Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are calculated based on a standardized value.

When buying or selling property, the guideline value helps in assessing the stamp duty and registration fees applicable to the transaction. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Annamalai Colony?

The current guideline value of Annamalai Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 327 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1582% over this period.

What are the stamp duty and registration fees for property in Annamalai Colony?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 55,00,000. The stamp duty at 7% is Rs 3,85,000, and the registration fee at 2% is Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Annamalai Colony?

The Virugambakkam Sub Registrar Office covers Annamalai Colony, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Annamalai Colony?

The land classification for Annamalai Colony is Residential Class II Type - I, indicating its suitability for residential development.