Guideline Value for J Block East 2nd Street

J Block East 2nd Street guideline value

The current guideline value of J Block East 2nd Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village under the AnnaNagar SRO, classified as Residential Special Type - II.

How the guideline value of J Block East 2nd Street has changed

Over the years, the guideline value of J Block East 2nd Street has seen several revisions. The earliest recorded figure is from 2007, at 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. From 2017, the value rose significantly to Rs 10,500 per sq.ft in 2023, and then to Rs 11,500 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the years, the changes in guideline value were notable: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

Mullam village has a range of guideline values across its 119 streets under the AnnaNagar SRO, with values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, which is equal to the current guideline value of J Block East 2nd Street.

• J-Block, 4th Main Road: Rs 12,100 per sq.ft (2024)
• J-Block, 3rd Avenue: Rs 15,900 per sq.ft (2024)
• J Block East 6th Street: Rs 11,500 per sq.ft (2024)
• J Block East 7 Street: Rs 11,500 per sq.ft (2024)
• J-Block - Streets: 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 J Block East 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers J Block East 2nd Street?

The Sub Registrar Office that covers J Block East 2nd Street 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 plays a crucial role in the registration process when buying or selling property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of these values to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of J Block East 2nd Street?

The current guideline value of J Block East 2nd 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 several revisions in between, including a significant increase of 49% from 2017 to 2023.

What is the land classification for J Block East 2nd Street?

J Block East 2nd Street is classified as Residential Special Type - II under the AnnaNagar SRO.

Where can I find the registration office for J Block East 2nd Street?

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

How is stamp duty calculated for properties in Mullam?

Stamp duty for properties in Mullam is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% of the guideline value.