Guideline Value for AA-BLOCK 2ND AVENUE (New Colony)

AA-BLOCK 2ND AVENUE (New Colony) guideline value

The current guideline value of AA-BLOCK 2ND AVENUE (New Colony) is Rs 15,900 per sq.ft, effective from 1 July 2024. This area is located in Naduvakkarai village and falls under the AnnaNagar SRO, classified as Commercial Class I Type - I.

How the guideline value of AA-BLOCK 2ND AVENUE (New Colony) has changed

Over the years, the guideline value of AA-BLOCK 2ND AVENUE (New Colony) has seen several revisions. The 2012 revision set the value at Rs 14,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 9,715 per sq.ft. The value remained at Rs 14,500 per sq.ft in the 2023 revision, before increasing to Rs 15,900 per sq.ft in the 2024 revision, marking a 10% rise.

From 2017 to 2023, there was a significant increase of 49%, bringing the value up from Rs 9,715 per sq.ft. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%.

Guideline values in Naduvakkarai

Naduvakkarai village has 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 the village is Rs 11,500 per sq.ft, positioning AA-BLOCK 2ND AVENUE (New Colony) above this median.

• AA- Block, 2nd Avenue 4675, 4675A, 4676 to 4696: Rs 15,900 per sq.ft (2024)
• AB- Block, 2nd Avenue 894, 4894 to 4907: Rs 15,900 per sq.ft (2024)
• AC- Block, 2nd Avenue 4908 to 4923: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in AA-BLOCK 2ND AVENUE (New Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total fees together to Rs 14,31,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AA-BLOCK 2ND AVENUE (New Colony)?

The AA-BLOCK 2ND AVENUE (New Colony) property falls under the jurisdiction of the AnnaNagar Sub Registrar Office. The address is Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To locate your SRO, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naduvakkarai. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded.

When you register a property, the guideline value serves as a benchmark for the transaction's value. If the sale price exceeds the guideline value, the higher amount is used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value for AA-BLOCK 2ND AVENUE (New Colony)?

The current guideline value for AA-BLOCK 2ND AVENUE (New Colony) is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 14,500 per sq.ft in 2023 to Rs 15,900 per sq.ft in 2024, which is a 10% increase. Overall, from 2012 to 2024, the value has increased by 10%.

What is the land classification for AA-BLOCK 2ND AVENUE (New Colony)?

AA-BLOCK 2ND AVENUE (New Colony) is classified as Commercial Class I Type - I.

Where can I find the registration office for this area?

The registration office for AA-BLOCK 2ND AVENUE (New Colony) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 11,13,000 at 7%.