Guideline Value for Annapoorana Nagar (Ward-23)

Annapoorana Nagar (Ward-23) guideline value

The current guideline value of Annapoorana Nagar (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Annapoorana Nagar (Ward-23) has changed

The guideline value of Annapoorana Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, the value rebounded significantly to Rs 1,500 per sq.ft in 2023, and then increased again to Rs 1,600 per sq.ft in 2024, reflecting a 7% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, making the 2024 guideline value of Annapoorana Nagar equal to this median.

• Annapoorani Annex II: Rs 1,600 per sq.ft (2024)
• Annapoorani Nagar / Annapoorna Nagar: Rs 1,600 per sq.ft (2024)
• Annapoorani Nagar Annexe / extension: Rs 1,600 per sq.ft (2024)
• Annapoorani Nagar , Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Annapoorna Nagar Extension: Rs 1,600 per sq.ft (2024)
• Anna Nagar (Ward-19): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Annapoorana Nagar (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, leading to a total of Rs 1,44,000. 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 more precise calculations.

Which Sub Registrar Office covers Annapoorana Nagar (Ward-23)?

The Sub Registrar Office covering Annapoorana Nagar (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madhavaram. It is used to calculate the stamp duty and registration fees that are applicable when buying or selling property. These fees are mandatory and must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is documented at a recognized value, which helps in maintaining transparency in the real estate market. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Annapoorana Nagar (Ward-23)?

The current guideline value of Annapoorana Nagar (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification for Annapoorana Nagar (Ward-23)?

Annapoorana Nagar (Ward-23) is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Annapoorana Nagar (Ward-23)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.