Guideline Value for Sri Annai nagar

Sri Annai nagar guideline value

The current guideline value of Sri Annai nagar in Kovur village, under the Kunrathur SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Sri Annai nagar has changed

Over the years, the guideline value of Sri Annai nagar has seen significant changes. The earliest recorded figure is from 2007, which was Rs 300 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 400%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, followed by another increase to Rs 1,650 per sq.ft in 2024, reflecting a growth of 10% between these two revisions.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kovur

Kovur village has a range of guideline values across its 91 streets under the Kunrathur SRO, with the 2024 figures ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Annai nagar.

• Sri Arunachalam Nagar: Rs 2,300 per sq.ft (2024)
• Sri Ambal Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar Annex Extension: Rs 1,650 per sq.ft (2024)
• Sri Ambal Nagar: Rs 1,650 per sq.ft (2024)
• Sri Adilkshmi Nagar Annexe: Rs 1,650 per sq.ft (2024)
• Sri Adhilakshmi nagar Extn: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Annai nagar

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 16,50,000. The stamp duty, charged at 7%, would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. The total cost for these fees would be Rs 1,48,500. 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 precise calculations.

Which Sub Registrar Office covers Sri Annai nagar?

The Sub Registrar Office that covers Sri Annai nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor during property transactions in Kovur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Annai nagar?

The current guideline value of Sri Annai nagar is Rs 1,650 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 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over this period.

What is the median guideline value in Kovur?

The median guideline value in Kovur is Rs 1,650 per sq.ft, which is the same as the current guideline value for Sri Annai nagar.

What fees are associated with property transactions in Sri Annai nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Sri Annai nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, which covers Sri Annai nagar.