Guideline Value for Block AA 2nd Street -30’

Block AA 2nd Street -30’ guideline value

The current guideline value for Block AA 2nd Street -30’ in Naduvakkarai village is Rs 11,500 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of Block AA 2nd Street -30’ has changed

The guideline value for Block AA 2nd Street -30’ has seen several revisions over the years. In 2007, 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. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and currently stands at Rs 11,500 per sq.ft as of the 2024 revision. Notably, the register has no figures for this street in 2002 and 2003.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. The value increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 15%, reflecting the fluctuations over the years.

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 value for these streets is Rs 11,500 per sq.ft, which is the same as the current guideline value for Block AA 2nd Street -30’.

• Block AA 1st 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 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 amounts to Rs 1,15,00,000. The stamp duty at 7% would be 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block AA 2nd Street -30’?

The Sub Registrar Office that covers Block AA 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 the registration process of property transactions in Naduvakkarai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Block AA 2nd Street -30’?

The current guideline value for Block AA 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 in 2007 to Rs 11,500 in 2024, reflecting a 15% increase overall since 2007.

What are the other streets in Naduvakkarai with the same guideline value?

Other streets in Naduvakkarai that share the same guideline value of Rs 11,500 per sq.ft include Block AA 1st Street -30’, Block AA 3rd Street -30’, Block AA 4th Street -30’, Block AB 1st Street -30’, Block AB 2nd Street -30’, and Block AB 3rd Street -30’.

What is the registration fee for properties in this area?

The registration fee for properties in Block AA 2nd Street -30’ is calculated at 2% of the guideline value or the sale price, whichever is higher.

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

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