Guideline Value for AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3

AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3 guideline value

The current guideline value for AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3 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. The land classification is Commercial Class I Type - I.

How the guideline value of AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3 has changed

The guideline value has undergone several revisions over the years. In 2007, the guideline value was Rs 13,500 per sq.ft. This increased to Rs 14,500 per sq.ft in 2012, marking a rise of 7%. However, the value saw a significant drop to Rs 9,715 per sq.ft in 2017, which was a decrease of 33%. The value then rebounded to Rs 14,500 per sq.ft in 2023, reflecting a substantial increase of 49%. The most recent revision in 2024 set the guideline value at Rs 15,900 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 18%.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging 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, which means that the guideline value for AK- Block, 4th Avenue 2491 to 2493 is above that median.

• AK Block 5th Street – 20’: Rs 11,500 per sq.ft (2024)
• AK Block 6th Ist Street – 20’: Rs 11,500 per sq.ft (2024)
• AK Block 7th Street – 20’: Rs 11,500 per sq.ft (2024)
• AK Block 8th Street – 20’: Rs 11,500 per sq.ft (2024)
• AK Block 9th Street – 20’: Rs 11,500 per sq.ft (2024)
• AJ Block 5th Street – 25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 14,31,000. It's important to note that the 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 AK- Block, 4th Avenue 2491 to 2493, Sundaram Medical Foundation Hospital, HIG 3?

The Sub Registrar Office that covers this area 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 details.

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 registered, the higher of the guideline value or the sale price is considered for calculating these fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value for AK- Block, 4th Avenue 2491 to 2493?

The current guideline value for AK- Block, 4th Avenue 2491 to 2493 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 seen various changes, 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 is the land classification for this property?

The land classification for AK- Block, 4th Avenue 2491 to 2493 is Commercial Class I Type - I.

Where can I find the registration office for this property?

The registration office for this property is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Naduvakkarai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.