Guideline Value for Aziz Mulk 8th St

Aziz Mulk 8th St guideline value

The current guideline value of Aziz Mulk 8th 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. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Aziz Mulk 8th St has changed

The guideline value for Aziz Mulk 8th St has seen several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased significantly to Rs 9,500 per sq.ft in 2012, marking a 280% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 6,365 per sq.ft. The subsequent revision in 2023 brought the value up to Rs 9,500 per sq.ft, and the latest revision in 2024 established the current value at Rs 10,400 per sq.ft, reflecting a 9% increase 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 in the register.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Aziz Mulk 8th St above this median at Rs 10,400 per sq.ft.

• Aziz Mulk 7th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 9th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 6th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk Lane: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 5th St: Rs 10,400 per sq.ft (2024)
• Aziz Mulk 4th St: Rs 10,400 per sq.ft (2024)

Stamp duty and registration fee for property in Aziz Mulk 8th St

For a 1,000 sq.ft plot at the current rate of Rs 10,400 per sq.ft, the guideline value amounts to Rs 1,04,00,000. The stamp duty at 7% would be Rs 7,28,000, and the registration fee at 2% would be Rs 2,08,000, totaling Rs 9,36,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aziz Mulk 8th St?

The Sub Registrar Office that covers Aziz Mulk 8th St is 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 crucial metric used during property registration in Nungambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation set by the government.

When buying or selling property, the guideline value helps determine the official value of the property for the purpose of taxation. This value is particularly important as it affects the overall cost of the transaction, including the fees payable at the time of registration.

Frequently asked questions

What is the current guideline value of Aziz Mulk 8th St?

The current guideline value of Aziz Mulk 8th 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 from Rs 2,500 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, showing an overall increase of 316% over the years.

What was the guideline value in 2023?

The guideline value for Aziz Mulk 8th St in 2023 was Rs 9,500 per sq.ft, which was an increase from Rs 6,365 per sq.ft in 2017.

Is there a figure available for the years 2002 and 2003?

No, the register has no figure for Aziz Mulk 8th St for the years 2002 and 2003.

What is the land classification for Aziz Mulk 8th St?

The land classification for Aziz Mulk 8th St is Commercial Class I Type - I, indicating its suitability for commercial activities.