Guideline Value for I Block, 4th Street

I Block, 4th Street guideline value

The current guideline value of I Block, 4th Street in Periakudal village is Rs 11,500 per sq.ft, effective from 1 July 2024. This falls under the AnnaNagar SRO and is classified as Residential Special Type - I.

How the guideline value of I Block, 4th Street has changed

The guideline value for I Block, 4th 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 then decreased to Rs 7,035 per sq.ft in 2017. The value rose significantly to Rs 10,500 per sq.ft in 2023, and the current revision in 2024 has set it at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periakudal

In Periakudal, there are 101 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value of I Block, 4th Street is equal to this median.

• I-Block, 2nd Main Road, 382 to 389, 812 to 817: Rs 12,600 per sq.ft (2024)
• I-Block, 9th Street: Rs 11,500 per sq.ft (2024)
• I- Block, 1st Main Road: Rs 15,400 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, 11th Street: Rs 11,500 per sq.ft (2024)
• I Block, 10th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in I Block, 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the 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, totaling Rs 10,35,000. 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 I Block, 4th Street?

The I Block, 4th Street is covered by 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 Periakudal

The guideline value plays a crucial role when buying or selling property in Periakudal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction reflects a fair value for taxation purposes.

When a buyer and seller agree on a sale price, the stamp duty and registration fees are calculated based on the higher of the guideline value or the agreed sale price. This ensures that the state government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of I Block, 4th Street?

The current guideline value of I Block, 4th 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 increments and decrements in between, including a significant rise from Rs 7,035 per sq.ft in 2017 to Rs 10,500 per sq.ft in 2023.

What is the land classification for I Block, 4th Street?

I Block, 4th Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering I Block, 4th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in I Block, 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 11,500 per sq.ft would incur a stamp duty of Rs 8,05,000.