Guideline Value for AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats

AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats guideline value

The current guideline value for AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats is Rs 15,900 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village, under the AnnaNagar SRO, and is classified as Commercial Class I Type - I.

How the guideline value of AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats has changed

The guideline value for AI-Block, 4th Avenue has seen several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft. This increased to Rs 14,500 per sq.ft in 2012, reflecting a rise of 7%. However, between 2012 and 2017, the value decreased by 33% to Rs 9,715 per sq.ft. The 2023 revision brought the value back up to Rs 14,500 per sq.ft, and in 2024, it increased further by 10% to Rs 15,900 per sq.ft.

From 2017 to 2023, the value increased significantly by 49%. Overall, from 2007 to 2024, the guideline value has risen by 18%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai village 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 as of 2024. The median value for these streets is Rs 11,500 per sq.ft, placing the guideline value for AI-Block, 4th Avenue above this median.

• 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 5th 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)

Stamp duty and registration fee for property in AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total to Rs 14,31,000. 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 Avenue 98 to 106, 1 & 2 MIG, HIG Flats?

The AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats falls under the jurisdiction of the AnnaNagar Sub Registrar Office. 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 is a crucial factor in the registration process when buying or selling property in Naduvakkarai. It serves as a reference point for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value for AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats?

The current guideline value for AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 13,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, reflecting an overall increase of 18% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 1,59,00,000. The stamp duty is Rs 11,13,000, and the registration fee is Rs 3,18,000, totaling Rs 14,31,000.

Which office handles the registration for this property?

The registration for AI-Block, 4th Avenue 98 to 106, 1 & 2 MIG, HIG Flats is handled by the AnnaNagar Sub Registrar Office, 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 used to determine the stamp duty and registration fees when buying or selling property. It ensures that these fees are based on a standardized value set by the government, facilitating accurate and legal property transactions.