Guideline Value for E- Block, 3rd Avenue

E- Block, 3rd Avenue guideline value

The current guideline value of E- Block, 3rd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024. This area is located in Mullam village and falls under the AnnaNagar SRO, classified as Commercial Class I Type - I.

How the guideline value of E- Block, 3rd Avenue has changed

The guideline value for E- Block, 3rd Avenue has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 9,715 per sq.ft. In 2017, the value increased to Rs 14,500 per sq.ft in 2012, but then decreased to Rs 9,715 per sq.ft in 2017, marking a drop of 33%. The value remained at Rs 14,500 per sq.ft in 2023, before rising to Rs 15,900 per sq.ft in the 2024 revision, an increase of 10%.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007, where the value was Rs 13,500 per sq.ft, to the current 2024 value shows an increase of 18%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing E- Block, 3rd Avenue's 2024 figure above the median.

• E-Block, 2nd main road: Rs 12,600 per sq.ft (2024)
• E-Block, 5th Main Road: Rs 12,600 per sq.ft (2024)
• E-Block - Streets: Rs 11,500 per sq.ft (2024)
• H-Block, 2nd main road: Rs 12,600 per sq.ft (2024)
• H-Block - 2nd Street: Rs 11,500 per sq.ft (2024)
• H-Block, 3rd Avenue: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in E- Block, 3rd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total to Rs 14,31,000. Stamp duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers E- Block, 3rd Avenue?

The E- Block, 3rd Avenue is covered by 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 Mullam

The guideline value plays a crucial role during property transactions in Mullam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a property is registered, the guideline value is considered to ensure compliance with local regulations. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which affects the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of E- Block, 3rd Avenue?

The current guideline value of E- Block, 3rd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,715 per sq.ft in 2017 to Rs 14,500 in 2023, and now to Rs 15,900 in 2024. The overall change from 2007 to 2024 is an increase of 18%.

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

For a property with a guideline value of Rs 15,900 per sq.ft, the stamp duty is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 14,31,000.

Where can I find the Sub Registrar Office for E- Block, 3rd Avenue?

The Sub Registrar Office covering E- Block, 3rd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that the correct taxes are paid and that the property is registered accurately in compliance with local regulations.