Guideline Value for AL Block 2nd Street – 30’

AL Block 2nd Street – 30’ guideline value

The current guideline value of AL Block 2nd Street – 30’ is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village, under the jurisdiction of the AnnaNagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of AL Block 2nd Street – 30’ has changed

The guideline value for AL Block 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, followed by a decrease to Rs 7,035 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 10,500 per sq.ft, and the most recent revision in 2024 has raised it to Rs 11,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 10%. Overall, from 2007 to 2024, the guideline value has risen by 15%.

Guideline values in Naduvakkarai

Naduvakkarai village 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 for these streets is Rs 11,500 per sq.ft, which matches the current value for AL Block 2nd Street.

• AL Block 1st Street – 30’: Rs 11,500 per sq.ft (2024)
• AL Block 3rd Street – 30’: Rs 11,500 per sq.ft (2024)
• AL BLOCK- 14Th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• AL Block 4th Street – 30’: Rs 11,500 per sq.ft (2024)
• AK Block 9th Street – 20’: Rs 11,500 per sq.ft (2024)
• AK Block 8th Street – 20’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in AL Block 2nd Street – 30’

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, totaling Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers AL Block 2nd Street – 30’?

The Sub Registrar Office that covers AL Block 2nd Street – 30’ 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 property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and based on the current market standards.

Frequently asked questions

What is the current guideline value of AL Block 2nd Street – 30’?

The current guideline value of AL Block 2nd Street – 30’ 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. There were increases and decreases in between, with the most significant change being a 49% increase from 2017 to 2023.

What is the land classification for AL Block 2nd Street?

The land classification for AL Block 2nd Street is Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for AL Block 2nd Street?

The Sub Registrar Office for AL Block 2nd Street 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 AL Block 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 at a rate of 7%.