Guideline Value for Block AC 1st Street -40’

Block AC 1st Street -40’ guideline value

The current guideline value for Block AC 1st Street -40’ 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 AC 1st Street -40’ has changed

The guideline value for Block AC 1st Street -40’ has undergone several revisions over the years. The 2024 revision sets the value at Rs 11,500 per sq.ft, an increase from Rs 10,500 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, in 2017, the value was Rs 7,035 per sq.ft, reflecting a significant increase of +49% from the previous 2023 figure. The 2012 revision also recorded a value of Rs 10,500 per sq.ft, which was a decrease of -33% from Rs 7,035 per sq.ft in 2017. The 2007 revision had set the value at Rs 10,000 per sq.ft, which was an increase of +5% from the 2012 figure.

It is important to note that there are no figures available 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 village features 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 guideline value for Block AC 1st Street -40’.

• Block AB 5th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 2nd Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 3rd Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 3rd Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 4th Street -40’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block AC 1st Street -40’

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, making the total charges 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 details.

Which Sub Registrar Office covers Block AC 1st Street -40’?

The Sub Registrar Office that covers Block AC 1st Street -40’ 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 a critical factor in the registration process when buying or selling property in Naduvakkarai. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are calculated based on the property's value.

When a property is registered, the guideline value serves as a benchmark for assessing the value of the property. Buyers and sellers should be aware that the guideline value can influence the overall costs associated with the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value for Block AC 1st Street -40’?

The current guideline value for Block AC 1st Street -40’ 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 10,500 in 2023 to Rs 11,500 in 2024, a +10% increase. From 2017 to 2023, it increased by +49% from Rs 7,035 to Rs 10,500.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would be Rs 10,35,000.

Which Sub Registrar Office is responsible for this street?

The AnnaNagar Sub Registrar Office is responsible for Block AC 1st Street -40’, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties in Naduvakkarai?

The guideline value is determined based on various revisions conducted by the Registration Department. It reflects the current market conditions and is used to assess stamp duty and registration fees during property transactions.