Guideline Value for Block AB 5th Street -30’

Block AB 5th Street -30’ guideline value

The current guideline value for Block AB 5th 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. The land classification for this area is Residential Special Type - II.

How the guideline value of Block AB 5th Street -30’ has changed

The guideline value for Block AB 5th Street -30’ has seen several revisions over the years. 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, but then dropped 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 per the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the guideline value changed as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value rose by 49%. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO. The 2024 guideline values for these streets range from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for Block AB 5th Street -30’ is equal to this median.

• Block AB 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 1st Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 3rd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 2nd Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 2nd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 3rd Street -40’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block AB 5th 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, making the total cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Block AB 5th Street -30’?

The Sub Registrar Office that covers Block AB 5th 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 details.

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

The guideline value is a crucial factor in the property registration process in Naduvakkarai. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. This value serves as a benchmark for both parties during negotiations and finalizing the sale.

Frequently asked questions

What is the current guideline value for Block AB 5th Street -30’?

The current guideline value for Block AB 5th 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 various increases and decreases in between. The most significant increase was from 2017 to 2023, where it rose by 49%.

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

Other streets in Naduvakkarai with the same guideline value of Rs 11,500 per sq.ft include Block AB 4th Street -30’, Block AC 1st Street -40’, Block AB 3rd Street -30’, Block AC 2nd Street -40’, and Block AB 2nd Street -30’.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Block AB 5th Street -30’ is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same value.

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

The Sub Registrar Office that covers Block AB 5th Street -30’ is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details through the provided link.