Guideline Value for Aziz Mulk 5th St

Aziz Mulk 5th St guideline value

The current guideline value of Aziz Mulk 5th St is Rs 10,400 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village, under the Chennai Central Joint II SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Aziz Mulk 5th St has changed

The guideline value of Aziz Mulk 5th St has seen several revisions over the years. The 2007 revision set the value at Rs 2,500 per sq.ft, which increased significantly to Rs 9,500 per sq.ft in 2012. However, this value dropped by 33% to Rs 6,365 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 9,500 per sq.ft, and the latest revision in 2024 further increased it to Rs 10,400 per sq.ft, reflecting a 9% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 316%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. Aziz Mulk 5th St's 2024 figure is above this median.

• Aziz Mulk 4th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 6th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 3nd St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 7th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 2nd St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 8th St: Rs 10,400 per sq.ft (2024)

Stamp duty and registration fee for property in Aziz Mulk 5th St

For a 1,000 sq.ft plot at the current guideline value of Rs 10,400 per sq.ft, the total guideline value would be Rs 1,04,00,000. The stamp duty at 7% would amount to Rs 7,28,000, and the registration fee at 2% would be Rs 2,08,000, totaling Rs 9,36,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aziz Mulk 5th St?

The Aziz Mulk 5th St falls under the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the authorities. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Aziz Mulk 5th St?

The current guideline value of Aziz Mulk 5th St is Rs 10,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,500 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, reflecting an overall increase of 316% over the years.

What is the land classification of Aziz Mulk 5th St?

Aziz Mulk 5th St is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Aziz Mulk 5th St?

The Sub Registrar Office covering Aziz Mulk 5th St is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is the stamp duty calculated for properties in Aziz Mulk 5th St?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 7,28,000.