Guideline Value for Block AA 3rd Street -30’

Block AA 3rd Street -30’ guideline value

The current guideline value for Block AA 3rd Street -30’ in Naduvakkarai village, under the AnnaNagar SRO, is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Block AA 3rd Street -30’ has changed

The guideline value for Block AA 3rd Street -30’ has seen several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012, marking a 5% rise. However, this value saw a significant decrease to Rs 7,035 per sq.ft in 2017, resulting in a 33% drop. The value then increased to Rs 10,500 per sq.ft in 2023, which is a 49% increase from the 2017 revision. The most recent revision in 2024 set the guideline value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that 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 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 guideline value for these streets is Rs 11,500 per sq.ft, which is the same as the 2024 figure for Block AA 3rd Street -30’. Here are some other streets in Naduvakkarai:

• Block AA 2nd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 1st 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 3rd 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, charged at 7%, would be Rs 8,05,000, while the registration fee at 2% would be Rs 2,30,000. Together, these fees would total 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Block AA 3rd Street -30’?

The Sub Registrar Office that covers Block AA 3rd 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Naduvakkarai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable taxes. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the sale price, which emphasizes the importance of understanding the guideline value in real estate transactions.

Frequently asked questions

What is the current guideline value for Block AA 3rd Street -30’?

The current guideline value for Block AA 3rd 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, reflecting an overall increase of 15% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the land classification for Block AA 3rd Street -30’?

The land classification for Block AA 3rd Street -30’ is Residential Special Type - II.