Guideline Value for Market Road

Market Road guideline value

The current guideline value of Market Road in Ayanavaram village, under the AnnaNagar SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - III land classification.

How the guideline value of Market Road has changed

The guideline value for Market Road has seen several revisions over the years. In 2007, the guideline value was Rs 1,200 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 275%. However, the value dropped to Rs 3,015 per sq.ft in 2017, which was a decrease of 33%. The subsequent revision in 2023 saw the value increase to Rs 4,500 per sq.ft, reflecting a 49% rise. The latest revision in 2024 has set the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 308%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Market Road.

• M Block 10 Street: Rs 11,000 per sq.ft (2024)
• M Block 9th Street: Rs 11,000 per sq.ft (2024)
• Medavakkam Tank Road: Rs 6,600 per sq.ft (2024)
• Loganathan Street: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme Ist Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Loco Works Scheme Ist Lane, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Market Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost for these fees Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Market Road?

The Market Road falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Market Road?

The current guideline value of Market Road in Ayanavaram is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308% over the years.

What are the stamp duty and registration fees for Market Road?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Market Road?

The AnnaNagar Sub Registrar Office handles registrations for Market Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Market Road?

Market Road is classified under Residential Class I Type - III, which indicates the type of development permitted in the area.