Guideline Value for Annammal Nagar Main Road

Annammal Nagar Main Road guideline value

The current guideline value of Annammal Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Annammal Nagar Main Road has changed

The guideline value for Annammal Nagar Main Road has seen several revisions over the years. In 2002, the value was Rs 90 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2003. The following revisions showed a continued increase, with the value reaching Rs 300 per sq.ft in 2007 and then jumping to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before climbing to Rs 2,500 per sq.ft in 2023 and finally reaching Rs 2,750 per sq.ft in 2024.

Between the revisions, there were notable changes. From 2002 to 2003, there was an increase of 178%. The value rose by 20% from 2003 to 2007, then surged by 733% from 2007 to 2012. The value fell by 33% from 2012 to 2017, but increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 saw a 10% increase, resulting in an overall increase of 2956% from 2002 to 2024.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Annammal Nagar Main Road above this median at Rs 2,750 per sq.ft.

• Annammal Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Annammal Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Annammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Annammal Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Arulmigu Meenakshi Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Arulmigu Meenakshi Amman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Annammal Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Annammal Nagar Main Road?

The Sub Registrar Office that covers Annammal Nagar Main Road 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 information.

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

The guideline value plays a crucial role in property transactions in Nerkundram. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. These fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in determining the financial obligations during the registration process. It ensures that all parties are aware of the costs involved and can plan accordingly.

Frequently asked questions

What is the current guideline value of Annammal Nagar Main Road?

The current guideline value of Annammal Nagar Main Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 90 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2956% over this period.

What are the stamp duty and registration fees for properties in Annammal Nagar Main Road?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Annammal Nagar Main Road?

The Virugambakkam Sub Registrar Office is responsible for Annammal Nagar Main Road, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Annammal Nagar Main Road?

Annammal Nagar Main Road is classified as Residential Class III Type - I under the Virugambakkam SRO.