Guideline Value for J-Block, 3rd Avenue

J-Block, 3rd Avenue guideline value

The current guideline value for J-Block, 3rd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Mullam village under the AnnaNagar SRO and is classified as Commercial Class I Type - I.

How the guideline value of J-Block, 3rd Avenue has changed

The guideline value for J-Block, 3rd Avenue has seen several revisions over the years. The 2007 revision set the value at Rs 13,500 per sq.ft, which increased to Rs 14,500 per sq.ft in 2012. However, this value dropped to Rs 9,715 per sq.ft in the 2017 revision, marking a decrease of 33%. From 2017 to 2023, the value significantly increased to Rs 14,500 per sq.ft, a rise of 49%. The latest revision in 2024 has further increased the guideline value to Rs 15,900 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 18%.

Guideline values in Mullam

In Mullam village, there are 119 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. J-Block, 3rd Avenue's 2024 figure is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, totaling Rs 14,31,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers J-Block, 3rd Avenue?

The Sub Registrar Office that covers J-Block, 3rd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 is a crucial factor when buying or selling property in Mullam, as it determines the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for J-Block, 3rd Avenue?

The current guideline value for J-Block, 3rd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 13,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, with notable fluctuations in between.

What are the stamp duty and registration fees for properties in J-Block, 3rd Avenue?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 11,13,000 and the registration fee would be Rs 3,18,000, totaling Rs 14,31,000.

Which Sub Registrar Office covers J-Block, 3rd Avenue?

The AnnaNagar Sub Registrar Office covers J-Block, 3rd Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Mullam village?

The median guideline value in Mullam village is Rs 11,500 per sq.ft, with J-Block, 3rd Avenue's value being above this median.