Guideline Value for I- Block, 1st Main Road

I- Block, 1st Main Road guideline value

The current guideline value for I- Block, 1st Main Road in Periakudal village is Rs 15,400 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Commercial Class I Type - I.

How the guideline value of I- Block, 1st Main Road has changed

Over the years, the guideline value for I- Block, 1st Main Road has seen several revisions. In 2007, the value was Rs 13,500 per sq.ft, which increased to Rs 14,000 per sq.ft in 2012. However, it dropped to Rs 9,380 per sq.ft in 2017. The value then rose significantly to Rs 14,000 per sq.ft in 2023, and most recently, it has increased to Rs 15,400 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2017 to 2023, the value increased by 49%. The jump from 2023 to 2024 is 10%. The overall change from 2007 to 2024 shows an increase of 14%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Periakudal

Periakudal village has 101 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 23,553 per sq.ft, where the median is Rs 11,500 per sq.ft. The guideline value for I- Block, 1st Main Road is above this median.

• I- Block, 1st Avenue 216 B,C,D,E,217,358 to 367: 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, 11th Street: Rs 11,500 per sq.ft (2024)
• I Block, 4th Street: Rs 11,500 per sq.ft (2024)
• I Block, 10th 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, 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, making a total of Rs 13,86,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers I- Block, 1st Main Road?

The I- Block, 1st Main Road 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 is an important factor when registering property transactions in Periakudal. It serves as a reference point for determining the minimum value at which properties can be sold or purchased, ensuring that transactions are conducted fairly and transparently.

When you buy or sell property, the guideline value will be used to calculate the stamp duty and registration fees. This ensures that all parties involved in the transaction are aware of the legal and financial obligations that come with property ownership.

Frequently asked questions

What is the current guideline value for I- Block, 1st Main Road?

The current guideline value for I- Block, 1st Main Road is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,500 per sq.ft in 2007 to Rs 15,400 per sq.ft in 2024, with various revisions in between, including a drop in 2017 to Rs 9,380 per sq.ft.

What is the land classification for I- Block, 1st Main Road?

The land classification for I- Block, 1st Main Road is Commercial Class I Type - I.

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

The Sub Registrar Office covering I- Block, 1st Main Road is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in I- Block, 1st Main Road?

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, the total guideline value is Rs 1,54,00,000, leading to a stamp duty of Rs 10,78,000.