Guideline Value for G BLOCK 1ST AVENUE

G Block 1st Avenue guideline value

The current guideline value of G Block 1st Avenue is Rs 20,000 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Mixed Special Type - III.

How the guideline value of G Block 1st Avenue has changed

The guideline value for G Block 1st Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 12,222 per sq.ft. This increased significantly to Rs 18,242 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 20,000 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded figures for G Block 1st Avenue in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Ayanavaram

Ayanavaram village has 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing G Block 1st Avenue's 2024 figure above this median.

• G Block 9th Street Extension: Rs 20,000 per sq.ft (2024)
• Gel. Coacher Street, Chennai 82: Rs 2,700 per sq.ft (2024)
• G.K.M. Colony, Chennai 82 & Streets: Rs 2,700 per sq.ft (2024)
• Gnanammal Garden: Rs 4,400 per sq.ft (2024)
• Gopal Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar (Slum Board Allotment Only): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in G Block 1st Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 20,000 per sq.ft, the total guideline value amounts to Rs 2,00,00,000. The stamp duty at 7% would be Rs 14,00,000, and the registration fee at 2% would be Rs 4,00,000, totaling Rs 18,00,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G Block 1st Avenue?

The Sub Registrar Office covering G Block 1st Avenue 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of G Block 1st Avenue?

The current guideline value of G Block 1st Avenue is Rs 20,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 12,222 per sq.ft to Rs 20,000 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for G Block 1st Avenue?

G Block 1st Avenue is classified as Mixed Special Type - III under the land classification system.

Where can I find the registration office for G Block 1st Avenue?

The registration office for G Block 1st Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ayanavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For G Block 1st Avenue, the stamp duty is 7% of the guideline value, along with a registration fee of 2%.