Guideline Value for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops

AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops guideline value

The current guideline value for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops 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 for this area is Commercial Class I Type - I.

How the guideline value of AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops has changed

The guideline value for this property has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 13,500 per sq.ft. This was followed by a revision in 2012, where the value changed to Rs 14,500 per sq.ft, representing an increase of 7%. However, in 2017, the value dropped significantly to Rs 9,715 per sq.ft, marking a decrease of 33%. The 2023 revision saw a substantial increase to Rs 14,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 15,900 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Naduvakkarai

In Naduvakkarai, there are 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, placing the guideline value of AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops above the median.

• AH Block 4th Street 30’: Rs 11,500 per sq.ft (2024)
• AH Block 3rd Street 30’: Rs 11,500 per sq.ft (2024)
• AH Block 5th Street 30’: Rs 11,500 per sq.ft (2024)
• AH Block 2nd Street –25’(Dead End): Rs 11,500 per sq.ft (2024)
• AH Block 1st Street – 30’: Rs 11,500 per sq.ft (2024)
• AI Block 1st Street – 25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, resulting in a total of Rs 14,31,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops?

The AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops is covered by 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 details.

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 stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is charged based on the higher of the two.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the transaction is conducted in accordance with the legal requirements set by the registration department. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops?

The current guideline value for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops 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. There have been several revisions, with notable increases in 2023 and 2024.

What is the land classification for this property?

The land classification for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops is Commercial Class I Type - I.

Where can I find the AnnaNagar Sub Registrar Office?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for this property?

The stamp duty for AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops is calculated at 7% of the guideline value, with additional registration fees at 2%. The total costs depend on the size of the property and the current guideline value.