Guideline Value for H-Block, 2nd main road

H-Block, 2nd main road guideline value

The current guideline value for H-Block, 2nd main road in Mullam village is Rs 12,600 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Special Type - I.

How the guideline value of H-Block, 2nd main road has changed

Over the years, the guideline value for H-Block, 2nd main road has seen several revisions. The 2007 revision set the value at Rs 11,000 per sq.ft, which then increased to Rs 11,500 per sq.ft in 2012, marking a 5% rise. However, the value dropped to Rs 7,705 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 11,500 per sq.ft, and the latest 2024 revision has increased it further to Rs 12,600 per sq.ft, a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for H-Block, 2nd main road is above this median.

• H-Block - 2nd Street: Rs 11,500 per sq.ft (2024)
• H-Block, 3rd Avenue: Rs 15,900 per sq.ft (2024)
• H-Block, 5th Main Road: Rs 12,600 per sq.ft (2024)
• H Block East 4th Street: Rs 11,500 per sq.ft (2024)
• H Block East 5th Street: Rs 11,500 per sq.ft (2024)
• H-Block, Ist Main Road: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in H-Block, 2nd main road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total to Rs 11,34,000. 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 details.

Which Sub Registrar Office covers H-Block, 2nd main road?

The Sub Registrar Office covering H-Block, 2nd main road 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 Mullam

The guideline value is a crucial factor when buying or selling property in Mullam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a buyer purchases a property, the guideline value ensures that the transaction is recorded at a fair rate, preventing undervaluation. It is important for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value for H-Block, 2nd main road?

The current guideline value for H-Block, 2nd main road is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,000 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024, reflecting an overall increase of 15% over the years.

What is the stamp duty on property in H-Block, 2nd main road?

The stamp duty for property in H-Block, 2nd main road is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for H-Block, 2nd main road?

The AnnaNagar Sub Registrar Office handles registrations for H-Block, 2nd main road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for H-Block, 2nd main road?

The land classification for H-Block, 2nd main road is Residential Special Type - I, indicating its designated use for residential purposes.