Guideline Value for AE Block 1st Street – 25’

AE Block 1st Street – 25’ guideline value

The current guideline value for AE Block 1st Street – 25’ in Naduvakkarai village is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of AE Block 1st Street – 25’ has changed

Over the years, the guideline value for AE Block 1st Street – 25’ has seen several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft. In 2012, it increased slightly to Rs 10,500 per sq.ft. However, it then decreased to Rs 7,035 per sq.ft in 2017. The 2023 revision brought it back up to Rs 10,500 per sq.ft, and the most recent 2024 revision has set it at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The change from 2012 to 2017 saw a decrease of 33%. The increase from 2007 to 2012 was modest at 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 that carry a 2024 guideline value 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 AE Block 1st Street – 25’.

• AE Block 2nd Street – 25’: Rs 11,500 per sq.ft (2024)
• AE Block 3rd Street – 25’: Rs 11,500 per sq.ft (2024)
• AE Block 4th Street – 25’: Rs 11,500 per sq.ft (2024)
• AE Block 5th Street – 25’: Rs 11,500 per sq.ft (2024)
• AE Block 6th Street – 25’: Rs 11,500 per sq.ft (2024)
• AE Block 7th Street – 25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AE Block 1st Street – 25’

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

Which Sub Registrar Office covers AE Block 1st Street – 25’?

The AE Block 1st Street – 25’ is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is a crucial factor in the registration process when buying or selling property in Naduvakkarai. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the actual sale price, which ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for AE Block 1st Street – 25’?

The current guideline value for AE Block 1st Street – 25’ 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 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with several revisions in between, including a decrease to Rs 7,035 per sq.ft in 2017.

What are the other streets in Naduvakkarai with the same guideline value?

Other streets in Naduvakkarai that share the same guideline value of Rs 11,500 per sq.ft for 2024 include AE Block 2nd Street, AE Block 3rd Street, AE Block 4th Street, AE Block 5th Street, AE Block 6th Street, and AE Block 7th Street.

What is the stamp duty rate for properties in AE Block 1st Street – 25’?

The stamp duty rate for properties in AE Block 1st Street – 25’ is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for AE Block 1st Street – 25’?

The Sub Registrar Office covering AE Block 1st Street – 25’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.