Guideline Value for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124

C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 guideline value

The current guideline value for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 is Rs 15,400 per sq.ft, effective from 1 July 2024. This property is located in Periakudal village, under the AnnaNagar SRO, and is classified as Commercial Class I Type - I.

How the guideline value of C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft, which increased to Rs 14,000 per sq.ft in 2012, marking a 4% increase. However, from 2012 to 2017, the value decreased significantly to Rs 9,380 per sq.ft, a drop of 33%. The value then rose sharply to Rs 14,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 15,400 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 14%.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that have a 2024 guideline value, ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 is above this median.

• C-Blcok 9th Street: Rs 11,500 per sq.ft (2024)
• C- Block, 2nd Avenue, 108 to 114: Rs 15,900 per sq.ft (2024)
• C-Blcok 8th Street: Rs 11,500 per sq.ft (2024)
• C-Blcok 7th Street: Rs 11,500 per sq.ft (2024)
• C-Blcok 6th Street: Rs 11,500 per sq.ft (2024)
• C-Blcok 10th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in C- Block, 1st main Road Thiru-Vika-Colony 114 to 124

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total charges to Rs 13,86,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C- Block, 1st main Road Thiru-Vika-Colony 114 to 124?

The Sub Registrar Office that covers C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 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 Periakudal

The guideline value plays a crucial role in the registration process when buying or selling property in Periakudal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

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. This ensures that the transaction is compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124?

The current guideline value for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,500 per sq.ft in 2007 to Rs 15,400 per sq.ft in 2024, reflecting an overall increase of 14%. Significant changes include a drop to Rs 9,380 per sq.ft in 2017 and a rise to Rs 14,000 per sq.ft in 2023.

What is the land classification for this area?

The land classification for C- Block, 1st main Road Thiru-Vika-Colony 114 to 124 is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,54,00,000, the stamp duty at 7% would be Rs 10,78,000.