Guideline Value for G Block west 1st Street

G Block west 1st Street guideline value

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

How the guideline value of G Block west 1st Street has changed

The guideline value for G Block west 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 10,000 per sq.ft. This value increased to Rs 10,500 per sq.ft in 2012, but then dropped to Rs 7,035 per sq.ft in 2017. The subsequent revision in 2023 saw a significant increase to Rs 10,500 per sq.ft, followed by the current figure of Rs 11,500 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Notably, there are no recorded figures for G Block west 1st Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Thirumangalam

In Thirumangalam, 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 the same as the current guideline value for G Block west 1st Street.

• G Block west 18th 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 17th Street: Rs 11,500 per sq.ft (2024)
• G Block west 2nd Street: Rs 11,500 per sq.ft (2024)
• G Block west 16th Street: Rs 11,500 per sq.ft (2024)
• G Block west 15th Street: Rs 11,500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value is 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, bringing the total charges to Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers G Block west 1st Street?

The Sub Registrar Office that covers G Block west 1st Street 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 details.

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

When buying or selling property in Thirumangalam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected during registration.

Frequently asked questions

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

The current guideline value of G Block west 1st 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, with various revisions taking place in between.

What is the land classification of G Block west 1st Street?

The land classification for G Block west 1st Street is Residential Special Type - I.

What is the stamp duty rate for property in G Block west 1st Street?

The stamp duty rate for property transactions in G Block west 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for G Block west 1st Street?

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