Guideline Value for 5th Street – 30 (Except Plot no 3347 )

5th Street – 30 (Except Plot no 3347 ) guideline value

The current guideline value of 5th Street – 30 (Except Plot no 3347) is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of 5th Street – 30 (Except Plot no 3347 ) has changed

Over the years, the guideline value of 5th Street – 30 has seen several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 in 2012. However, it then decreased to Rs 7,035 in 2017. Following this, the value rose significantly to Rs 10,500 in 2023, and then to Rs 11,500 in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The change from 2012 to 2017 reflected a decrease of 33%, while the increase from 2007 to 2012 was 5%. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, which is equal to the current value of 5th Street – 30 (Except Plot no 3347).

• 5th Street – 30 (Plot no 3347 only): Rs 11,500 per sq.ft (2024)
• 4TH AVENUE (New Colony): Rs 15,900 per sq.ft (2024)
• 3RD AVENUE (New Colony): Rs 15,900 per sq.ft (2024)
• Y Block 3rd Street: Rs 12,600 per sq.ft (2024)
• Y Block 1st Street: Rs 12,600 per sq.ft (2024)
• X Block Second Avenue C-45A,C46,C46A, B,C 47 C48 Ayyappa Temple Avin LIC Office, Tower Block, TNHB Office: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in 5th Street – 30 (Except Plot no 3347 )

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, totaling Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers 5th Street – 30 (Except Plot no 3347 )?

The Sub Registrar Office that covers 5th Street – 30 (Except Plot no 3347) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Naduvakkarai. It serves as the minimum value at which a property can be registered, ensuring that the transaction is documented accurately according to government regulations.

When a buyer and seller agree on a sale price, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of 5th Street – 30 (Except Plot no 3347)?

The current guideline value of 5th Street – 30 (Except Plot no 3347) is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 in 2007 to Rs 11,500 in 2024, reflecting an overall increase of 15%. Significant changes include a 49% increase from 2017 to 2023.

What is the land classification for 5th Street – 30?

The land classification for 5th Street – 30 is Residential Special Type - II, indicating its intended use for residential purposes.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering 5th Street – 30 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,15,00,000, the stamp duty at 7% would amount to Rs 8,05,000.