Guideline Value for Block AC 2nd Street -40’

Block AC 2nd Street -40’ guideline value

The current guideline value of Block AC 2nd Street -40’ in Naduvakkarai village under the AnnaNagar SRO is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - II land classification.

How the guideline value of Block AC 2nd Street -40’ has changed

The guideline value for Block AC 2nd Street -40’ has seen several revisions over the years. The 2007 revision set the guideline value at Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it then decreased significantly to Rs 7,035 per sq.ft in 2017. Following this, the value rose to Rs 10,500 per sq.ft in 2023, and currently, it stands at Rs 11,500 per sq.ft as of the 2024 revision. The register has no figures for this street for the years 2002 and 2003.

Between the revisions, the changes are noteworthy. From 2017 to 2023, there was a substantial increase of 49%. The value saw a decrease of 33% from 2012 to 2017, and a modest increase of 5% from 2007 to 2012. 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 that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value of Block AC 2nd Street -40’.

• Block AC 1st Street -40’: Rs 11,500 per sq.ft (2024)
• Block AC 3rd Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 5th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AC 4th Street -40’: Rs 11,500 per sq.ft (2024)
• Block AB 4th Street -30’: Rs 11,500 per sq.ft (2024)
• Block AD 1st Street -25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Block AC 2nd 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 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 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 details.

Which Sub Registrar Office covers Block AC 2nd Street -40’?

The Sub Registrar Office that covers Block AC 2nd 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 crucial factor in the registration process when buying or selling property in Naduvakkarai. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps establish the minimum value upon which the stamp duty is calculated. This ensures that all transactions are transparent and adhere to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Block AC 2nd Street -40’?

The current guideline value for Block AC 2nd 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 significantly, with the most recent revision in 2024 showing an increase of 10% from the previous year. Overall, from 2007 to 2024, the value has increased by 15%.

What is the land classification for Block AC 2nd Street -40’?

Block AC 2nd Street -40’ is classified as Residential Special Type - II, indicating its designation for residential use.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees amount to Rs 10,35,000.

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

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