Guideline Value for LOOP STREET ( ANNASALAI)

Loop Street ( Annasalai) guideline value

The current guideline value of Loop Street ( Annasalai) is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in the Government farm village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Loop Street ( Annasalai) has changed

Over the years, the guideline value of Loop Street ( Annasalai) has seen significant changes. The earliest available revision was in 2012, which set the value at Rs 10,000 per sq.ft. This was followed by a decrease to Rs 6,700 per sq.ft in 2017. The value then increased to Rs 10,000 per sq.ft in the 2023 revision, and finally, it rose to Rs 11,000 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Government farm

In the Government farm village, there are 35 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,850 to Rs 15,400 per sq.ft. The median value for these streets is Rs 8,250 per sq.ft, placing Loop Street ( Annasalai) above this median with its value of Rs 11,000 per sq.ft.

• Lotus Colony (Nandanam): Rs 5,830 per sq.ft (2024)
• Link Road: Rs 4,400 per sq.ft (2024)
• Krishnapillai Thotam 2nd Street: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam 1st Street: Rs 3,850 per sq.ft (2024)
• Krishnapillai Thotam: Rs 3,850 per sq.ft (2024)
• Nandhi Loop Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Loop Street ( Annasalai)

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Loop Street ( Annasalai)?

The Sub Registrar Office that covers Loop Street ( Annasalai) is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Government farm. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value impacts the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value is used to calculate the necessary fees, ensuring that the transaction is compliant with local regulations. It is essential for all parties involved to understand these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Loop Street ( Annasalai)?

The current guideline value of Loop Street ( Annasalai) is Rs 11,000 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 10,000 in 2012 to Rs 6,700 in 2017, then back to Rs 10,000 in 2023, and finally to Rs 11,000 in 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the other streets in Government farm and their values?

Other streets in Government farm include Lotus Colony (Nandanam) at Rs 5,830 per sq.ft, Link Road at Rs 4,400 per sq.ft, and several streets at Rs 3,850 per sq.ft. Loop Street ( Annasalai) has a higher value than the median of Rs 8,250 per sq.ft for the area.

What fees are associated with property transactions in Loop Street ( Annasalai)?

For a property in Loop Street ( Annasalai), the total fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For example, a 1,000 sq.ft plot would incur total fees of Rs 9,90,000.

Where can I find the Sub Registrar Office for Loop Street ( Annasalai)?

The Sub Registrar Office for Loop Street ( Annasalai) is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information about your SRO online.