Guideline Value for Annaswamy Street

Annaswamy Street guideline value

The current guideline value of Annaswamy Street in Issa Pallavaram village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Annaswamy Street has changed

The guideline value of Annaswamy Street has seen several revisions over the years. In 2003, the value was Rs 201 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This marked a significant rise of 99%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, between 2012 and 2017, the value decreased by 33%, settling at Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current rate of Rs 2,200 per sq.ft in 2024, a 10% increase from the previous year.

It is important to note that the register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 995%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Annaswamy Street's 2024 figure below this median.

• Arasamaram Street: Rs 3,850 per sq.ft (2024)
• Arundathipuram: Rs 4,400 per sq.ft (2024)
• Arundathipuram 1st Street: Rs 4,400 per sq.ft (2024)
• Arundathipuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Arunthathipuram 3rd St: Rs 4,400 per sq.ft (2024)
• Asan Basha Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Annaswamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Annaswamy Street?

The Sub Registrar Office that covers Annaswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When a buyer or seller approaches the Pallavaram SRO, the guideline value will influence the stamp duty and registration fees applicable to the transaction. This ensures that both parties are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Annaswamy Street?

The current guideline value of Annaswamy Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 995% over this period.

What are the other guideline values in Issa Pallavaram?

In Issa Pallavaram, the guideline values range from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Annaswamy Street's value is below this median.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a 1,000 sq.ft property at the current guideline value incurs a total of Rs 1,98,000 in fees.

Where can I find the Sub Registrar Office for Annaswamy Street?

The Sub Registrar Office covering Annaswamy Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.