Guideline Value for AI Block 2nd Street – 25’

AI Block 2nd Street – 25’ guideline value

The current guideline value for AI Block 2nd Street – 25’ is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village under the AnnaNagar SRO, classified as Residential Special Type - II.

How the guideline value of AI Block 2nd Street – 25’ has changed

Over the years, the guideline value for AI Block 2nd Street – 25’ has undergone several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 in 2012. However, in 2017, the value dropped to Rs 7,035 per sq.ft. The 2023 revision saw a significant increase to Rs 10,500 per sq.ft, followed by the current 2024 revision, which raised it further to Rs 11,500 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2023 to 2024 reflects a 10% rise. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

Naduvakkarai village features a range of guideline values across its 148 streets under the AnnaNagar SRO, with figures varying from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value is Rs 11,500 per sq.ft, placing AI Block 2nd Street – 25’ at this median level.

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

Stamp duty and registration fee for property in AI Block 2nd 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 amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, totaling Rs 10,35,000. It is important to note that the 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 AI Block 2nd Street – 25’?

The AI Block 2nd Street – 25’ is covered by 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 is a crucial reference for property transactions in Naduvakkarai. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value helps in determining the official worth of the property, which is essential for legal documentation and taxation purposes. It is advisable for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for AI Block 2nd Street – 25’?

The current guideline value for AI Block 2nd Street – 25’ is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 10,000 in 2007 to Rs 11,500 in 2024, with various revisions in between. The most significant change was a 49% increase from 2017 to 2023.

What is the land classification for AI Block 2nd Street – 25’?

AI Block 2nd Street – 25’ is classified as Residential Special Type - II. This classification is important for understanding the zoning and usage regulations for the property.

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

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

How is stamp duty calculated for properties in AI Block 2nd Street – 25’?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 at 7%.