Guideline Value for AK- Block, 4th Avenue Sno 4/7

AK- Block, 4th Avenue Sno 4/7 guideline value

The current guideline value for AK- Block, 4th Avenue Sno 4/7 is Rs 15,900 per sq.ft. This property is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of AK- Block, 4th Avenue Sno 4/7 has changed

The guideline value for AK- Block, 4th Avenue Sno 4/7 has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 13,500 per sq.ft. In 2012, it changed to Rs 14,500 per sq.ft, marking an increase of 7%. However, in 2017, the value decreased to Rs 9,715 per sq.ft, a drop of 33%. The 2023 revision brought it back up to Rs 14,500 per sq.ft, and the most recent 2024 revision set the guideline value at Rs 15,900 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, the guideline value has increased by 18% from the 2007 revision to the current 2024 figure. 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 figures 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 AK- Block, 4th Avenue Sno 4/7 above the 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 Sno 4/7

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, making the total fees together 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 more information.

Which Sub Registrar Office covers AK- Block, 4th Avenue Sno 4/7?

The Sub Registrar Office that covers AK- Block, 4th Avenue Sno 4/7 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 additional details.

How the guideline value is used when you buy or sell in Naduvakkarai

The guideline value plays a crucial role in the registration process of property transactions in Naduvakkarai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall cost of the transaction. The registration process requires adherence to these values to maintain transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value for AK- Block, 4th Avenue Sno 4/7?

The current guideline value for AK- Block, 4th Avenue Sno 4/7 is Rs 15,900 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

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

What is the land classification for this property?

The land classification for AK- Block, 4th Avenue Sno 4/7 is Commercial Class I Type - I, indicating its suitability for commercial activities.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 14,31,000.

Where is the Sub Registrar Office located for this property?

The Sub Registrar Office covering AK- Block, 4th Avenue Sno 4/7 is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.