Guideline Value for AF- Block, 4th Avenue 87 to 97 MIG Flats

AF- Block, 4th Avenue 87 to 97 MIG Flats guideline value

The current guideline value for AF- Block, 4th Avenue 87 to 97 MIG Flats is Rs 15,900 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village under the AnnaNagar SRO, classified as Commercial Class I Type - I.

How the guideline value of AF- Block, 4th Avenue 87 to 97 MIG Flats has changed

The guideline value for this location has undergone several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft, which increased to Rs 14,500 per sq.ft in 2012. However, it saw a decrease to Rs 9,715 per sq.ft in 2017. The value then rose significantly to Rs 14,500 per sq.ft in 2023, and currently stands at Rs 15,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, followed by a further increase of 10% from 2023 to 2024. The overall change from 2007 to 2024 reflects an 18% increase in the guideline value per sq.ft.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing AF- Block, 4th Avenue 87 to 97 MIG Flats above the median.

• AF Block 4th Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 3rd Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 5th Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 2nd Street – 30’: Rs 11,500 per sq.ft (2024)
• AF Block 6th 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)

Stamp duty and registration fee for property in AF- Block, 4th Avenue 87 to 97 MIG Flats

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, bringing the total 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AF- Block, 4th Avenue 87 to 97 MIG Flats?

The AF- Block, 4th Avenue 87 to 97 MIG Flats falls under the jurisdiction of 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 crucial factor in property transactions in Naduvakkarai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for AF- Block, 4th Avenue 87 to 97 MIG Flats?

The current guideline value for AF- Block, 4th Avenue 87 to 97 MIG Flats 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 rates for properties in this area?

The stamp duty for properties in this area is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for AF- Block, 4th Avenue 87 to 97 MIG Flats?

The AnnaNagar Sub Registrar Office handles property registrations for AF- Block, 4th Avenue 87 to 97 MIG Flats, located in Nolambur Phase 2, Chennai.

What is the median guideline value for streets in Naduvakkarai?

The median guideline value for streets in Naduvakkarai is Rs 11,500 per sq.ft, with AF- Block, 4th Avenue 87 to 97 MIG Flats being above this median at Rs 15,900 per sq.ft.