Guideline Value for AI Block 5th Street – 25’

AI Block 5th Street – 25’ guideline value

The current guideline value of AI Block 5th 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 5th Street – 25’ has changed

In the 2017 revision, the guideline value was Rs 7,035 per sq.ft. This figure increased to Rs 10,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

Prior to the 2017 revision, the 2012 revision also set the guideline value at Rs 10,500 per sq.ft, which was a decrease of 33% from the 2007 revision that had a rate of Rs 10,000 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with guideline values in the 2024 revision ranging from Rs 3,300 to Rs 15,900 per sq.ft. The guideline value of AI Block 5th Street – 25’ at Rs 11,500 per sq.ft aligns with the median value of the area.

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

Stamp duty and registration fee for property in AI Block 5th Street – 25’

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers AI Block 5th Street – 25’?

The Sub Registrar Office that covers AI Block 5th Street – 25’ is 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 important factor in the registration process of property transactions in Naduvakkarai. It serves as a benchmark for determining the minimum value at which properties 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 to establish a fair price for the transaction. It is essential for both 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 of AI Block 5th Street – 25’?

The current guideline value of AI Block 5th 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 seen several revisions, with the most recent increase from Rs 10,500 per sq.ft in 2023 to Rs 11,500 per sq.ft in 2024, a change of 10%. The value increased significantly from Rs 7,035 per sq.ft in 2017 to Rs 10,500 per sq.ft in 2023, showing a 49% rise.

What are the other streets in Naduvakkarai with the same guideline value?

Other streets in Naduvakkarai with the same guideline value of Rs 11,500 per sq.ft include AI Block 4th Street, AI Block 3rd Street, AI Block 2nd Street, AI Block 1st Street, AH Block 5th Street, and AJ Block 1st Street.

What fees are involved in registering property in AI Block 5th Street – 25’?

The fees involved in registering property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 1,15,00,000, the total fees would amount to Rs 10,35,000.

Where can I find the Sub Registrar Office for AI Block 5th Street – 25’?

The Sub Registrar Office for AI Block 5th Street – 25’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more information about your SRO through the provided link.