Guideline Value for Annamalai Street

Annamalai Street guideline value

The current guideline value of Annamalai Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Annamalai Street has changed

Over the years, the guideline value of Annamalai Street has seen several revisions. The earliest recorded figure is from 2003, which was Rs 171 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, then rose to Rs 700 per sq.ft in 2012. However, it decreased to Rs 469 per sq.ft in 2017. The value then increased to Rs 700 per sq.ft in 2023, and finally, it is set at Rs 770 per sq.ft from 2024.

The changes between these revisions highlight a notable increase. From 2003 to 2007, the value rose by 134%, followed by a 75% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, before increasing by 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows a 10% increase, leading to an overall increase of 350% from 2003 to 2024.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value is Rs 770 per sq.ft, which is the same as the current value for Annamalai Street. Below are other streets in Padiyanallur:

• Annai Therasa Street: Rs 770 per sq.ft (2024)
• Anna Street: Rs 770 per sq.ft (2024)
• Anna Durai Street: Rs 770 per sq.ft (2024)
• Arignar Anna Street: Rs 660 per sq.ft (2024)
• Anbazhagan Street: Rs 770 per sq.ft (2024)
• Ashokar Cross Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Annamalai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Annamalai Street?

The Sub Registrar Office that covers Annamalai Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Padiyanallur. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, this value is used to calculate applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that properties are not undervalued, thus protecting the interests of both buyers and sellers. It is advisable to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Annamalai Street?

The current guideline value of Annamalai Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, showing an overall increase of 350% over this period.

What is the land classification for Annamalai Street?

Annamalai Street is classified as Residential Class I Type - I under the Redhills SRO.

Where can I find the registration office for Annamalai Street?

The registration office for Annamalai Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.