Guideline Value for AF Block 3rd Street – 30’

AF Block 3rd Street – 30’ guideline value

The current guideline value of AF Block 3rd Street – 30’ 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 AF Block 3rd Street – 30’ has changed

The guideline value of AF Block 3rd Street – 30’ has undergone several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, marking a 5% rise. However, from 2012 to 2017, the value decreased to Rs 7,035 per sq.ft, a drop of 33%. The value then increased significantly to Rs 10,500 per sq.ft in 2023, representing a 49% increase. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 15% from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with the 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 the same as that of AF Block 3rd Street – 30’.

• AF Block 2nd Street – 30’: Rs 11,500 per sq.ft (2024)
• AF- Block, 2nd Avenue C-35 to C- 44: Rs 15,900 per sq.ft (2024)
• AF- Block, 4th Avenue 87 to 97 MIG Flats: Rs 15,900 per sq.ft (2024)
• AF Block 4th Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 1st Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 5th Street – 30’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AF Block 3rd Street – 30’

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, while the registration fee at 2% would be Rs 2,30,000. Together, these fees would total Rs 10,35,000. 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 AF Block 3rd Street – 30’?

The AF Block 3rd Street – 30’ 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 details.

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

The guideline value is a critical factor in property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that both buyers and sellers have a clear understanding of the property's worth as defined by the state. This helps facilitate smoother transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of AF Block 3rd Street – 30’?

The current guideline value of AF Block 3rd Street – 30’ 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, reflecting an overall increase of 15%. The most significant changes occurred from 2017 to 2023, where it rose by 49%.

What are the other streets in Naduvakkarai with similar guideline values?

Other streets in Naduvakkarai with a guideline value of Rs 11,500 per sq.ft include AF Block 1st Street – 30’, AF Block 2nd Street – 30’, AF Block 4th Street – 30’, and AF Block 5th Street – 30’.

How is the stamp duty calculated for properties in AF Block 3rd Street – 30’?

Stamp duty for properties in AF Block 3rd Street – 30’ is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000.

Where can I find the Sub Registrar Office for AF Block 3rd Street – 30’?

The Sub Registrar Office covering AF Block 3rd Street – 30’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.