Guideline Value for Block AB 2nd Street -30’

Block AB 2nd Street -30’ guideline value

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

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

Over the years, the guideline value of Block AB 2nd Street -30’ has seen several revisions. The earliest recorded figure is from 2007, which was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, followed by a decrease to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023, and further increased to the current rate of Rs 11,500 per sq.ft in 2024.

The changes between these revisions are notable. From 2017 to 2023, there was a 49% increase, while the 2012 to 2017 period saw a decrease of 33%. The value increased by 5% from 2007 to 2012. 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 148 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, which is equal to the current guideline value of Block AB 2nd Street -30’. Below are other streets in Naduvakkarai:

• Block AB 1st Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 3rd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AA 3rd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AB 5th Street -30’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block AB 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 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, bringing the total cost to Rs 10,35,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers Block AB 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 is an essential factor 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 appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is crucial for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Block AB 2nd Street -30’?

The current guideline value of Block AB 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 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with several revisions in between, including a notable increase of 49% from 2017 to 2023.

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

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

What is the stamp duty for a property in Block AB 2nd Street -30’?

The stamp duty for a property in Block AB 2nd Street -30’ is 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000.

What is the land classification for Block AB 2nd Street -30’?

Block AB 2nd Street -30’ is classified as Residential Special Type - II under the Tamil Nadu land classification system.