Guideline Value for AJ Block 3rd Street – 25’

AJ Block 3rd Street – 25’ guideline value

The current guideline value of AJ 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 AJ Block 3rd Street – 25’ has changed

The guideline value for AJ Block 3rd Street has undergone several revisions over the years. The earliest recorded value was in 2007 at Rs 10,000 per sq.ft. This figure increased to Rs 10,500 per sq.ft in 2012, marking a 5% rise. However, it then decreased to Rs 7,035 per sq.ft in 2017, reflecting a decline of 33%. Following this, the value saw significant growth, reaching Rs 10,500 per sq.ft in 2023, a 49% increase from the previous revision. Currently, for the 2024 revision, the guideline value stands at Rs 11,500 per sq.ft, which is a 10% increase from 2023.

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

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value among these streets is Rs 11,500 per sq.ft, which aligns with the guideline value of AJ Block 3rd Street – 25’.

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

Stamp duty and registration fee for property in AJ 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 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 essential 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 AJ Block 3rd Street – 25’?

The Sub Registrar Office that covers AJ 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 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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the transaction is legally recognized and that the appropriate taxes are paid.

Frequently asked questions

What is the current guideline value of AJ Block 3rd Street – 25’?

The current guideline value of AJ 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 from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, showing an overall increase of 15% over the years.

What is the land classification for AJ Block 3rd Street – 25’?

The land classification for AJ Block 3rd Street – 25’ is Residential Special Type - II.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in AJ Block 3rd Street – 25’?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 8,05,000.