Guideline Value for AJ- Block, 4th Avenue 2494 to 2502

AJ- Block, 4th Avenue 2494 to 2502 guideline value

The current guideline value for AJ- Block, 4th Avenue 2494 to 2502 is Rs 15,900 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village and falls under the AnnaNagar SRO, classified as Commercial Class I Type - I.

How the guideline value of AJ- Block, 4th Avenue 2494 to 2502 has changed

The guideline value for AJ- Block, 4th Avenue has seen several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft. It increased to Rs 14,500 per sq.ft in 2012, but then dropped to Rs 9,715 per sq.ft in 2017. Following this, the value rose significantly to Rs 14,500 per sq.ft in 2023, and finally to Rs 15,900 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the adjustment from 2007 to 2012 was an increase of 7%. Overall, from 2007 to 2024, the guideline value has risen by 18%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai village has a range of guideline values across its 148 streets under the AnnaNagar SRO, with values varying from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value in this area is Rs 11,500 per sq.ft, placing AJ- Block, 4th Avenue above this median.

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

Stamp duty and registration fee for property in AJ- Block, 4th Avenue 2494 to 2502

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value amounts to Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, leading to a total cost of Rs 14,31,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers AJ- Block, 4th Avenue 2494 to 2502?

The Sub Registrar Office that covers AJ- Block, 4th Avenue 2494 to 2502 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 plays a crucial role in the registration process when buying or selling property in Naduvakkarai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for AJ- Block, 4th Avenue 2494 to 2502?

The current guideline value for AJ- Block, 4th Avenue 2494 to 2502 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 from Rs 13,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, with various revisions in between, including a drop to Rs 9,715 per sq.ft in 2017 and a rise to Rs 14,500 per sq.ft in 2023.

What is the classification of the land in this area?

The land classification for AJ- Block, 4th Avenue 2494 to 2502 is Commercial Class I Type - I, indicating its use for commercial purposes.

What are the stamp duty rates applicable?

The stamp duty for property transactions in this area is charged at 7% of the higher value between the guideline value and the sale price, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering AJ- Block, 4th Avenue 2494 to 2502 is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.