Guideline Value for ULTRA MODERN CITY

Ultra Modern City guideline value

The current guideline value of Ultra Modern City in Annathoor village is Rs 104 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - III land classification and is registered with the Salavakkam Sub Registrar Office.

How the guideline value of Ultra Modern City has changed

The guideline value for Ultra Modern City has undergone several revisions over the years. In 2012, the guideline value was set at Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, and currently stands at Rs 104 per sq.ft in the 2024 revision, marking a 4% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. The overall change from 2012 to 2024 shows a modest increase of 4%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Annathoor

In Annathoor village, there are 9 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 104 per sq.ft, with a median value of Rs 101 per sq.ft. The guideline value for Ultra Modern City is above this median.

• Dhanalakshmi Nagar: Rs 101 per sq.ft (2024)
• Annathur New City Phase-VII: Rs 100 per sq.ft (2024)
• Annathur New City Phase-VI: Rs 101 per sq.ft (2024)
• Annathur New City Phase-V: Rs 101 per sq.ft (2024)
• Annathur New City Phase-IV: Rs 101 per sq.ft (2024)
• Annathur New City Phase-III: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in Ultra Modern City

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total cost for these fees to Rs 9,360. It is important to note that 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 Ultra Modern City?

The Ultra Modern City is covered by the Salavakkam Sub Registrar Office located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Annathoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ultra Modern City?

The current guideline value of Ultra Modern City in Annathoor village is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and now stands at Rs 104 per sq.ft in 2024.

What is the land classification for Ultra Modern City?

Ultra Modern City is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Ultra Modern City?

For a property valued at Rs 1,04,000, the stamp duty would be Rs 7,280 and the registration fee would be Rs 2,080, totaling Rs 9,360.

Which office handles registrations for properties in Annathoor?

The Salavakkam Sub Registrar Office handles registrations for properties in Annathoor, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.