Guideline Value for AC- Block, 2nd Avenue 4908 to 4923

AC- Block, 2nd Avenue 4908 to 4923 guideline value

The current guideline value for AC- Block, 2nd Avenue 4908 to 4923 is Rs 15,900 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification is Commercial Class I Type - I.

How the guideline value of AC- Block, 2nd Avenue 4908 to 4923 has changed

The guideline value for AC- Block, 2nd Avenue 4908 to 4923 has seen several changes over the years. In the 2007 revision, the value was Rs 13,500 per sq.ft. This increased to Rs 14,500 per sq.ft in the 2012 revision, marking a 7% rise. However, in the 2017 revision, the value decreased to Rs 9,715 per sq.ft, reflecting a significant drop of 33%. The value then rose sharply to Rs 14,500 per sq.ft in the 2023 revision, a 49% increase from the previous figure. The current value of Rs 15,900 per sq.ft from the 2024 revision represents a 10% increase from the 2023 figure.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 18%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value in this area is Rs 11,500 per sq.ft, placing the current value of AC- Block, 2nd Avenue 4908 to 4923 above that median.

• AD-Block 10th Main Road 2314, 2314A, 2315, 2321, 3349, 3350: Rs 12,600 per sq.ft (2024)
• AD Block 5th Street: Rs 11,500 per sq.ft (2024)
• AB- Block, 2nd Avenue 894, 4894 to 4907: Rs 15,900 per sq.ft (2024)
• AA-BLOCK 2ND AVENUE (New Colony): Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in AC- Block, 2nd Avenue 4908 to 4923

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

Which Sub Registrar Office covers AC- Block, 2nd Avenue 4908 to 4923?

The Sub Registrar Office that covers AC- Block, 2nd Avenue 4908 to 4923 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 for property transactions in Naduvakkarai. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the financial aspects of property transactions. Understanding how the guideline value is applied can help in better planning and budgeting for property purchases.

Frequently asked questions

What is the current guideline value for AC- Block, 2nd Avenue 4908 to 4923?

The current guideline value for AC- Block, 2nd Avenue 4908 to 4923 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 changed from Rs 13,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, reflecting an overall increase of 18% over the years.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 11,13,000, and the registration fee would be Rs 3,18,000, totaling Rs 14,31,000.

Which Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers AC- Block, 2nd Avenue 4908 to 4923, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that these costs are based on the official valuation set by the Registration Department.