Guideline Value for H Block west 8th Street

H Block west 8th Street guideline value

The current guideline value of H Block west 8th 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 it falls under the Residential Special Type - I land classification.

How the guideline value of H Block west 8th Street has changed

The guideline value for H Block west 8th Street has seen several revisions over the years. In 2007, the value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it dropped to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 11,500 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 10%. The change from 2012 to 2017 saw a decline of 33%, and from 2007 to 2012, there was a modest increase of 5%. 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 for these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value of H Block west 8th Street.

• H Block west 7th Street: Rs 11,500 per sq.ft (2024)
• H Block west 9th Street: Rs 11,500 per sq.ft (2024)
• H Block west 6th Street: Rs 11,500 per sq.ft (2024)
• H Block west 5th Street: Rs 11,500 per sq.ft (2024)
• H Block west 4th Street: Rs 11,500 per sq.ft (2024)
• H Block west 3rd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in H Block west 8th 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, leading to a total of 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.

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

Which Sub Registrar Office covers H Block west 8th Street?

The H Block west 8th 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. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Thirumangalam. It serves as a benchmark for determining the minimum value of a property, ensuring that the sale price is not undervalued. Buyers and sellers must consider the guideline value to comply with registration requirements and to calculate applicable duties and fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. This means that the higher of the guideline value and the actual sale price will be used to calculate these costs, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of H Block west 8th Street?

The current guideline value of H Block west 8th 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 several revisions in between, including a drop to Rs 7,035 per sq.ft in 2017.

What is the land classification of H Block west 8th Street?

H Block west 8th Street is classified as Residential Special Type - I, indicating its purpose for residential development.

Where can I find the AnnaNagar Sub Registrar Office?

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 for properties in H Block west 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 at a rate of 7%.