Guideline Value for Block AB 1st Street -30’

Block AB 1st Street -30’ guideline value

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

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

The guideline value for Block AB 1st Street -30’ has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then decreased to Rs 7,035 per sq.ft in 2017. Following this decline, the value rose significantly to Rs 10,500 per sq.ft in 2023, and further increased to the current value of Rs 11,500 per sq.ft in 2024.

In terms of percentage changes, the value increased by 5% from 2007 to 2012, then saw a decline of 33% from 2012 to 2017. After that, there was a substantial increase of 49% from 2017 to 2023, followed by a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naduvakkarai

Naduvakkarai village 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 is Rs 11,500 per sq.ft, which is the same as the current value for Block AB 1st Street -30’.

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

Stamp duty and registration fee for property in Block AB 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 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. You can use our stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Block AB 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). 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 when buying or selling property in Naduvakkarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is standardized and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Block AB 1st Street -30’?

The current guideline value of Block AB 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 has changed multiple times, starting from Rs 10,000 per sq.ft in 2007, reaching Rs 10,500 in 2012, dropping to Rs 7,035 in 2017, then increasing to Rs 10,500 in 2023, and finally to Rs 11,500 in 2024.

What is the stamp duty for property in Block AB 1st Street -30’?

The stamp duty for property in Block AB 1st Street -30’ is calculated at 7% of the higher value between the guideline value and the sale price. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000.

Where is the Sub Registrar Office for Block AB 1st Street -30’ located?

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

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

Block AB 1st Street -30’ is classified as Residential Special Type - II, which is relevant for determining the guideline value and other regulatory aspects related to property transactions.