Guideline Value for Block AA 1st Street -30’

Block AA 1st Street -30’ guideline value

The current guideline value of Block AA 1st Street -30’ is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village and falls under the AnnaNagar SRO with a land classification of Residential Special Type - II.

How the guideline value of Block AA 1st Street -30’ has changed

The guideline value for Block AA 1st Street -30’ has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it then decreased to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023, and finally, it stands at Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

Naduvakkarai has a total of 148 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, which is equal to the guideline value of Block AA 1st Street -30’.

• Block AA 2nd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 3rd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 1st Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 2nd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 3rd Street -30’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block AA 1st 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 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 more detailed calculations.

Which Sub Registrar Office covers Block AA 1st Street -30’?

The Sub Registrar Office that covers Block AA 1st Street -30’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For more information, you can find your SRO.

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 serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Block AA 1st Street -30’?

The current guideline value for Block AA 1st 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 for Block AA 1st Street -30’ has changed from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 15% over the years.

What is the land classification for Block AA 1st Street -30’?

The land classification for Block AA 1st Street -30’ is Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Block AA 1st Street -30’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Naduvakkarai?

Stamp duty for properties in Naduvakkarai is calculated based on the guideline value or the sale price, whichever is higher. This calculation is essential for determining the total cost of property registration.