Guideline Value for Annapoorani Annex II

Annapoorani Annex II guideline value

The current guideline value of Annapoorani Annex II is Rs 1,600 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Annapoorani Annex II has changed

The guideline value for Annapoorani Annex II has seen several revisions over the years. The earliest recorded figure is from 2012, which was 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 increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%, and when considering the overall change from 2012 to 2024, there has been a modest increase of 7%. The register does not have 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, with the median value being Rs 1,600 per sq.ft. The guideline value for Annapoorani Annex II aligns with this median.

• Annapoorana Nagar (Ward-23): 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 Annapoorani Annex II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Annapoorani Annex II?

The Annapoorani Annex II area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Annapoorani Annex II?

The current guideline value of Annapoorani Annex II 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 1,600 per sq.ft in 2024, with various fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Annapoorani Annex II?

Annapoorani Annex II is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Annapoorani Annex II is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the Annapoorani Annex II area.