Guideline Value for H-Block, 5th Main Road

H-Block, 5th Main Road guideline value

The current guideline value of H-Block, 5th Main Road is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Mullam village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of H-Block, 5th Main Road has changed

Over the years, the guideline value of H-Block, 5th Main Road has undergone several revisions. The 2007 revision set the figure at Rs 11,000 per sq.ft, which increased to Rs 11,500 per sq.ft in 2012. However, there was a significant drop in the 2017 revision, bringing the value down to Rs 7,705 per sq.ft. This was followed by a substantial increase to Rs 11,500 per sq.ft in 2023, and the most recent revision in 2024 raised it further to Rs 12,600 per sq.ft.

The changes between these revisions are notable. From 2017 to 2023, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%. The 2007 to 2012 revision had a modest increase of 5%. Overall, from 2007 to 2024, the guideline value has risen by 15%. The register does not have 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. The median value for these streets is Rs 11,500 per sq.ft, placing H-Block, 5th Main Road above this median.

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

Stamp duty and registration fee for property in H-Block, 5th 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 would be Rs 1,26,00,000. The stamp duty at 7% would amount to Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total cost to Rs 11,34,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers H-Block, 5th Main Road?

The Sub Registrar Office that covers H-Block, 5th Main Road 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 information.

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

The guideline value is a crucial factor when it comes to property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of H-Block, 5th Main Road?

The current guideline value of H-Block, 5th 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 this period.

What is the land classification for H-Block, 5th Main Road?

H-Block, 5th Main Road is classified as Residential Special Type - I under the current guidelines.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 1,26,00,000, the stamp duty would be Rs 8,82,000 and the registration fee would be Rs 2,52,000, totaling Rs 11,34,000.

Which Sub Registrar Office covers this property?

The AnnaNagar Sub Registrar Office covers H-Block, 5th Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.