Guideline Value for G Block west 18th Street

G Block west 18th Street guideline value

The current guideline value for G Block west 18th 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 18th Street has changed

The guideline value for G Block west 18th Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 10,500 per sq.ft, which decreased to Rs 7,035 per sq.ft in the 2017 revision. Following this, the 2023 revision saw a significant increase to Rs 10,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while there was a slight increase of 5% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam village, there are 149 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 is Rs 11,500 per sq.ft, which is equal to the guideline value for G Block west 18th Street.

• G Block west 17th Street: Rs 11,500 per sq.ft (2024)
• G Block west 1st Street: Rs 11,500 per sq.ft (2024)
• G Block west 16th Street: Rs 11,500 per sq.ft (2024)
• G- Block (West)-2nd Avenue 343, 368, 1948 New Sunshine Apartments (MIG Flats): Rs 14,800 per sq.ft (2024)
• G Block west 15th Street: Rs 11,500 per sq.ft (2024)
• G Block west 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in G Block west 18th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, totaling Rs 10,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers G Block west 18th Street?

The G Block west 18th Street falls under 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 Thirumangalam

The guideline value is a crucial factor in property transactions in Thirumangalam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value serves as a benchmark for the minimum value at which a property can be registered.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value for G Block west 18th Street?

The current guideline value for G Block west 18th 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 10,500 per sq.ft in 2012 to Rs 7,035 per sq.ft in 2017, then increased to Rs 10,500 per sq.ft in 2023, and finally to Rs 11,500 per sq.ft in 2024.

What is the land classification for G Block west 18th Street?

G Block west 18th Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the AnnaNagar 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.