Guideline Value for AI Block 1st Street – 25’

AI Block 1st Street – 25’ guideline value

The current guideline value of AI Block 1st Street – 25’ 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, classified as Residential Special Type - II.

How the guideline value of AI Block 1st Street – 25’ has changed

The guideline value for AI Block 1st Street – 25’ has seen several revisions over the years. In the 2007 revision, the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in the 2012 revision, followed by a decrease to Rs 7,035 per sq.ft in 2017. The 2023 revision marked a significant increase to Rs 10,500 per sq.ft, and the latest revision in 2024 brought it to Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was 5%. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai village has a range of guideline values across its 148 streets under the AnnaNagar SRO, with values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value is Rs 11,500 per sq.ft, which is equal to the 2024 figure for AI Block 1st Street – 25’.

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

Stamp duty and registration fee for property in AI Block 1st Street – 25’

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, and the registration fee at 2% would be Rs 2,30,000, making the total fees Rs 10,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers AI Block 1st Street – 25’?

The AnnaNagar Sub Registrar Office covers AI Block 1st Street – 25’. The office is 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 during the registration process when buying or selling property in Naduvakkarai. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is officially recorded with the government.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value as assessed by the guideline value register.

Frequently asked questions

What is the current guideline value for AI Block 1st Street – 25’?

The current guideline value for AI Block 1st Street – 25’ is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase being from Rs 10,500 per sq.ft in 2023 to Rs 11,500 per sq.ft in 2024, a 10% increase. Overall, from 2007 to 2024, the value has increased by 15%.

What is the land classification for AI Block 1st Street – 25’?

AI Block 1st Street – 25’ is classified as Residential Special Type - II. This classification affects the guideline value and potential uses of the land.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for AI Block 1st Street – 25’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 10,35,000.