Guideline Value for AI Block 4th Street – 25’

AI Block 4th Street – 25’ guideline value

The current guideline value of AI Block 4th 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 4th Street – 25’ has changed

The guideline value for AI Block 4th Street – 25’ has seen several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft. In the 2012 revision, the value increased by 5% to Rs 10,500 per sq.ft. However, in the 2017 revision, the value dropped significantly by 33% to Rs 7,035 per sq.ft. This was followed by a substantial increase in the 2023 revision, where the value rose by 49% to Rs 10,500 per sq.ft. Finally, the 2024 revision established the current value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 15,900 per sq.ft, with the median value being Rs 11,500 per sq.ft. AI Block 4th Street – 25’ aligns with this median value.

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

Stamp duty and registration fee for property in AI Block 4th 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, bringing the total 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers AI Block 4th Street – 25’?

The Sub Registrar Office that covers AI Block 4th 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

When buying or selling property in Naduvakkarai, the guideline value is used to determine the stamp duty and registration fees. The buyer is required to pay these fees based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for both buyers and sellers to be aware of the guideline value, as it influences the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of AI Block 4th Street – 25’?

The current guideline value of AI Block 4th 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 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 15% over this period.

What is the land classification for AI Block 4th Street – 25’?

The land classification for AI Block 4th Street – 25’ is Residential Special Type - II.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 10,35,000.

Which office handles the registration for AI Block 4th Street – 25’?

The registration for AI Block 4th Street – 25’ is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.