Guideline Value for Annanagar Extension 7th Sector

Annanagar Extension 7th Sector guideline value

The current guideline value of Annanagar Extension 7th Sector is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO. The land classification for this sector is Residential Special Type - I.

How the guideline value of Annanagar Extension 7th Sector has changed

The guideline value for Annanagar Extension 7th Sector has seen several revisions over the years. Starting from Rs 655 per sq.ft in 2002, the value increased to Rs 719 per sq.ft in 2003. The next significant jump occurred in 2007 when the value rose to Rs 2,000 per sq.ft, followed by a remarkable increase to Rs 6,500 per sq.ft in 2012. However, this figure dropped to Rs 4,355 per sq.ft in 2017 before climbing to Rs 6,500 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft.

Examining the changes, from 2002 to 2024, the overall increase is 984%. Notably, the jump from 2017 to 2023 was 49%, while the increase from 2023 to 2024 was 9%. The 2012 to 2017 period saw a decrease of 33%, and the 2007 to 2012 period experienced a significant increase of 225%. The years 2003 to 2007 and 2002 to 2003 also saw increases of 178% and 10%, respectively. There are no figures available for any revisions before 2002 or after 2024 for this street.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Annanagar Extension 7th Sector matches this median value.

• Annanagar West end Colony: Rs 7,100 per sq.ft (2024)
• Anna Nagar West Extn: Rs 7,100 per sq.ft (2024)
• Anna Street: Rs 3,800 per sq.ft (2024)
• Appu Flats: Rs 7,100 per sq.ft (2024)
• Angamuthu Nagar 1st, 2nd and 3rd Street: Rs 3,800 per sq.ft (2024)
• Asirvatham Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Annanagar Extension 7th Sector

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to 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, making the total cost for these fees Rs 6,39,000. It is important to note that the duty is charged based on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Annanagar Extension 7th Sector?

The Sub Registrar Office that covers Annanagar Extension 7th Sector is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Annanagar Extension 7th Sector?

The current guideline value for Annanagar Extension 7th Sector is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 655 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 984% over this period.

What is the land classification for Annanagar Extension 7th Sector?

The land classification for Annanagar Extension 7th Sector is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Annanagar Extension 7th Sector is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000.