Guideline Value for AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View)

AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View) guideline value

The current guideline value for AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View) is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View) has changed

The guideline value for AG- Block, 7th Main Road has seen several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft, which increased to Rs 11,500 per sq.ft in 2012, reflecting a 5% rise. However, from 2012 to 2017, the value decreased significantly by 33% to Rs 7,705 per sq.ft. Following this decline, the value rose to Rs 11,500 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 12,600 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

In Naduvakkarai, there are 148 streets under the AnnaNagar SRO with a 2024 guideline value 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, and the guideline value for AG- Block, 7th Main Road is above this median.

• AG- Block, 4th Avenue 1 to 9 (Shanthi Colony) 2434D, F: Rs 15,900 per sq.ft (2024)
• AG Block 3rd Street – 30’ (Dead End): Rs 11,500 per sq.ft (2024)
• AG- Block, 3rd Avenue L1 to L4, M1 to M2, 2434G, H3127C-C, River View colony: Rs 15,900 per sq.ft (2024)
• AG Block 2nd Street – 25’ (Dead End): Rs 11,500 per sq.ft (2024)
• AF Block 8th Street – 30’: Rs 11,000 per sq.ft (2024)
• AF Block 7th Street – 30’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View)

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total fees to Rs 11,34,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View)?

The Sub Registrar Office that covers AG- Block, 7th Main Road is 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 plays a crucial role in the registration process when buying or selling property in Naduvakkarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the applicable fees. This ensures that properties are not undervalued during the registration process, maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for AG- Block, 7th Main Road?

The current guideline value for AG- Block, 7th Main Road 2444A, 3123, 3133, Market Huts (Coovum River View) is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 11,000 per sq.ft in 2007, rising to Rs 11,500 in 2012, dropping to Rs 7,705 in 2017, increasing to Rs 11,500 in 2023, and finally reaching Rs 12,600 in 2024.

What are the other guideline values in Naduvakkarai?

In Naduvakkarai, the guideline values for other streets range from Rs 3,300 to Rs 15,900 per sq.ft, with the median being Rs 11,500 per sq.ft. AG- Block, 7th Main Road's value is above this median.

What fees are associated with buying property in AG- Block, 7th Main Road?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property would incur total fees of Rs 11,34,000.

Where is the Sub Registrar Office located for this property?

The Sub Registrar Office for AG- Block, 7th Main Road is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.