Guideline Value for G Block west 2nd Street

G Block west 2nd Street guideline value

The current guideline value for G Block west 2nd Street in Thirumangalam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Special Type - I.

How the guideline value of G Block west 2nd Street has changed

The guideline value for G Block west 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft. It increased to Rs 10,500 per sq.ft in 2012, but then saw a significant drop to Rs 7,035 per sq.ft in 2017. Following this, the value rose sharply to Rs 10,500 per sq.ft in 2023, and currently stands at Rs 11,500 per sq.ft as of the 2024 revision.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%. The increase from 2023 to 2024 is 10%. However, the value decreased by 33% from 2012 to 2017. 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 equal to the guideline value for G Block west 2nd Street. Here are some other streets in Thirumangalam:

• G- Block (West)-2nd Avenue 343, 368, 1948 New Sunshine Apartments (MIG Flats): Rs 14,800 per sq.ft (2024)
• G Block west 1st Street: Rs 11,500 per sq.ft (2024)
• G Block west 18th Street: Rs 11,500 per sq.ft (2024)
• G Block west 17th 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 2nd 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 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 west 2nd Street?

The Sub Registrar Office that covers G Block west 2nd Street is 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 Thirumangalam

When buying or selling property in Thirumangalam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in Thirumangalam.

Frequently asked questions

What is the current guideline value of G Block west 2nd Street?

The current guideline value of G Block west 2nd 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 increases and a decrease in between.

What is the land classification for G Block west 2nd Street?

The land classification for G Block west 2nd Street is Residential Special Type - I.

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.

How is stamp duty calculated in Thirumangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is important to consider both values when determining the total fees.