Guideline Value for J Block East 7 Street

J Block East 7 Street guideline value

The current guideline value for J Block East 7 Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village and falls under the AnnaNagar SRO, with a land classification of Residential Special Type - II.

How the guideline value of J Block East 7 Street has changed

The guideline value for J Block East 7 Street has undergone several revisions over the years. The earliest revision available is from 2007, where the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then saw a decrease to Rs 7,035 per sq.ft in 2017. Following this decline, the value rose significantly to Rs 10,500 per sq.ft in 2023, and most recently, it has reached Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Mullam

Mullam village has a total of 119 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, which is equal to the current value for J Block East 7 Street.

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers J Block East 7 Street?

The Sub Registrar Office that covers J Block East 7 Street is 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 details.

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

The guideline value is a crucial factor when registering property transactions in Mullam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is particularly important for legal and financial purposes during the registration process.

Frequently asked questions

What is the current guideline value for J Block East 7 Street?

The current guideline value for J Block East 7 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 for J Block East 7 Street 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.

What is the land classification for J Block East 7 Street?

J Block East 7 Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the registration office for J Block East 7 Street?

The registration office for J Block East 7 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 Mullam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 at the rate of 7%.