Guideline Value for Ravi Colony / Anna Nagar

Ravi Colony / Anna Nagar guideline value

The current guideline value of Ravi Colony / Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pammal village and falls under the Pammal SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Ravi Colony / Anna Nagar has changed

The guideline value of Ravi Colony / Anna Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 228 per sq.ft. This increased to Rs 258 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, which was a 40% increase from the previous revision. By 2017, the guideline value had surged to Rs 1,675 per sq.ft, reflecting a remarkable 365% increase over the 2007 figure. The 2023 revision set the value at Rs 2,500 per sq.ft, a 49% increase from 2017. The most recent revision in 2024 raised the guideline value to Rs 2,750 per sq.ft, a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1,106%. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 figure for Ravi Colony / Anna Nagar above this median.

• Rathinam Street / Ambdekar Nagar: Rs 1,760 per sq.ft (2024)
• Rasammal Street, Meenakshi Nagar: Rs 1,980 per sq.ft (2024)
• Ranjan Street, Samundeswari Nagar: Rs 1,980 per sq.ft (2024)
• Rani Anna Street, Sivasankaran Nagar: Rs 1,980 per sq.ft (2024)
• Rani Anna Street: Rs 1,980 per sq.ft (2024)
• Rangaswamy Street / Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Ravi Colony / Anna Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Ravi Colony / Anna Nagar?

The Ravi Colony / Anna Nagar area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized value set by the Registration Department.

During the registration process, buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the actual sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Ravi Colony / Anna Nagar?

The current guideline value of Ravi Colony / Anna Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 228 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, an overall increase of 1,106%.

What is the land classification for Ravi Colony / Anna Nagar?

The land classification for Ravi Colony / Anna Nagar is Commercial Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the actual sale price of the property. For example, if the guideline value is Rs 27,50,000, the stamp duty would be calculated on this amount if the sale price is lower.