Guideline Value for I Block, 11th Street

I Block, 11th Street guideline value

The current guideline value for I Block, 11th Street in Periakudal 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 I Block, 11th Street has changed

The guideline value for I Block, 11th Street has seen several revisions over the years. In 2007, the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then dropped to Rs 7,035 per sq.ft in 2017. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and currently stands at Rs 11,500 per sq.ft as of the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The revision from 2023 to 2024 reflects a 10% rise. The overall change from 2007 to 2024 indicates a 15% increase in the guideline value for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 23,553 per sq.ft. The median value is Rs 11,500 per sq.ft, which matches the current guideline value of I Block, 11th Street.

• I Block, 10th Street: Rs 11,500 per sq.ft (2024)
• I- Block, 1st Avenue 216 B,C,D,E,217,358 to 367: Rs 15,400 per sq.ft (2024)
• I- Block, 1st Main Road: Rs 15,400 per sq.ft (2024)
• I-Block, 2nd Main Road,382 to 389, 812 to 817: Rs 12,600 per sq.ft (2024)
• I Block, 4th Street: Rs 11,500 per sq.ft (2024)
• I-Block, 9th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in I Block, 11th 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 to Rs 10,35,000. 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 I Block, 11th Street?

The I Block, 11th Street is covered by 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Periakudal. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government collects the appropriate taxes based on the property’s value.

When selling a property, the guideline value helps establish a fair price for the transaction, ensuring that both parties are aware of the minimum value recognized by the registration authorities. This transparency is essential for maintaining a stable real estate market.

Frequently asked questions

What is the current guideline value for I Block, 11th Street?

The current guideline value for I Block, 11th 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, reflecting an overall increase of 15% over the years.

What is the land classification for I Block, 11th Street?

I Block, 11th Street is classified as Residential Special Type - I, indicating its designation for residential purposes.

Where can I find the registration office for I Block, 11th Street?

The registration office for I Block, 11th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in I Block, 11th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 8,05,000.