Guideline Value for G Block west 16th Street

G Block west 16th Street guideline value

The current guideline value of G Block west 16th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of G Block west 16th Street has changed

Over the years, the guideline value for G Block west 16th Street has seen several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, between 2012 and 2017, there was a significant decrease of 33%, bringing the value down to Rs 7,035 per sq.ft. The value rebounded in the 2023 revision to Rs 10,500 per sq.ft, and with the latest revision in 2024, it has risen to Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the 2024 revision shows a total increase of 15%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value is Rs 11,500 per sq.ft, which is the same as the current value for G Block west 16th Street.

• G Block west 15th Street: Rs 11,500 per sq.ft (2024)
• G Block west 17th Street: Rs 11,500 per sq.ft (2024)
• G Block west 14th Street: Rs 11,500 per sq.ft (2024)
• G Block west 18th Street: Rs 11,500 per sq.ft (2024)
• G Block west 13th Street: Rs 11,500 per sq.ft (2024)
• G Block west 1st Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in G Block west 16th Street

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 at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total fees to Rs 10,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers G Block west 16th Street?

The G Block west 16th Street falls under the jurisdiction of 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 additional assistance.

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

The guideline value plays a crucial role during property transactions in Thirumangalam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is considered the minimum value for registration, ensuring that properties are not undervalued in official records.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair basis for negotiations and ensures transparency in the transaction process. Buyers should be aware of the guideline value to understand their financial obligations during the purchase.

Frequently asked questions

What is the current guideline value of G Block west 16th Street?

The current guideline value of G Block west 16th Street 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 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting a total increase of 15% over the years.

What is the median guideline value in Thirumangalam?

The median guideline value in Thirumangalam is Rs 11,500 per sq.ft, which is the same as the current value for G Block west 16th Street.

What are the stamp duty and registration fees for property in G Block west 16th Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would be Rs 10,35,000, based on the guideline value of Rs 1,15,00,000.

Which office handles registrations for G Block west 16th Street?

The AnnaNagar Sub Registrar Office is responsible for registrations in G Block west 16th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.