Guideline Value for Ah- Block, 8th Main Road 2420, 2459, 2459a, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (Mig)

AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG) guideline value

The current guideline value for AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG) is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG) has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft. This increased to Rs 11,500 per sq.ft in 2012, then decreased to Rs 7,705 per sq.ft in 2017. Following that, the value rose significantly to Rs 11,500 per sq.ft in 2023, and currently stands at Rs 12,600 per sq.ft as of the 2024 revision. Notably, there are no figures available in the register for the years 2002 and 2003 for this street.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%. The value increased by 5% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with a 2024 guideline value range 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 2024 value of AH- Block, 8th Main Road above that median.

• AH- Block, 7th Main Road L 39 to 47 (Duvaraga Colony) Park: Rs 12,600 per sq.ft (2024)
• AH Block 5th Street 30’: Rs 11,500 per sq.ft (2024)
• AH Block 4th Street 30’: Rs 11,500 per sq.ft (2024)
• AI Block 1st Street – 25’: Rs 11,500 per sq.ft (2024)
• AH- Block 4th Avenue 10 to 22, (Shanthi Colony) MIG Flats, 2459A, Shops: Rs 15,900 per sq.ft (2024)
• AI Block 2nd Street – 25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG)

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 charges to Rs 11,34,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG)?

The AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG) 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 information.

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

The guideline value is an essential factor during property registration in Naduvakkarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that the property is registered at a value recognized by the government.

When a property is sold or purchased, the guideline value helps establish a fair price for taxation purposes. It is crucial for both parties to understand that the duty is charged based on the higher value between the guideline and the actual sale price.

Frequently asked questions

What is the current guideline value for AH- Block, 8th Main Road?

The current guideline value for AH- Block, 8th Main Road 2420, 2459, 2459A, 2561, 3107, 3111, 3142, 3155, 3181, 3182 Shanthi Colony Shops (MIG) 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 from Rs 11,000 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024. The most notable increase was from Rs 7,705 per sq.ft in 2017 to Rs 11,500 per sq.ft in 2023.

What is the land classification for this property?

The land classification for AH- Block, 8th Main Road is Residential Special Type - I. This classification indicates the type of residential use permitted for the property.

Where can I find the registration office for this property?

The registration office covering AH- Block, 8th Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Naduvakkarai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property with a guideline value of Rs 1,26,00,000 would incur a stamp duty of Rs 8,82,000 at 7%.