Guideline Value for AI Block 3rd Street – 25’

AI Block 3rd Street – 25’ guideline value

The current guideline value for AI Block 3rd 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. The land classification for this area is Residential Special Type - II.

How the guideline value of AI Block 3rd Street – 25’ has changed

Over the years, the guideline value for AI Block 3rd Street – 25’ has seen several revisions. The earliest available figure is from the 2007 revision, which was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then dropped to Rs 7,035 per sq.ft in 2017. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and finally reached Rs 11,500 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

The changes between these revisions show a 5% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 15% from 2007 to 2024.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with guideline values 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, which is equal to the current figure for AI Block 3rd Street – 25’.

• AI Block 2nd Street – 25’: Rs 11,500 per sq.ft (2024)
• AI Block 1st 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 3rd 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, bringing the total cost for these fees to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AI Block 3rd Street – 25’?

The Sub Registrar Office that covers AI Block 3rd Street – 25’ 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 details.

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

The guideline value is a crucial factor during the registration of property transactions 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 buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value for AI Block 3rd Street – 25’?

The current guideline value for AI Block 3rd 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 significantly, with the 2007 figure at Rs 10,000 per sq.ft, rising to Rs 10,500 in 2012, dropping to Rs 7,035 in 2017, and then increasing to Rs 10,500 in 2023 before reaching Rs 11,500 in 2024.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000. These fees are based on the guideline value of Rs 1,15,00,000.

Which office handles registrations for AI Block 3rd Street – 25’?

The AnnaNagar Sub Registrar Office is responsible for registrations in AI Block 3rd Street – 25’. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of a property. It ensures that the government receives appropriate revenue through stamp duty and registration fees during property transactions.