Guideline Value for K- Block, 2nd Main Road, 397 to 402, 495A1, A2

K- Block, 2nd Main Road, 397 to 402, 495A1, A2 guideline value

The current guideline value for K- Block, 2nd Main Road, 397 to 402, 495A1, A2 is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of K- Block, 2nd Main Road, 397 to 402, 495A1, A2 has changed

The guideline value for K- Block, 2nd Main Road has seen several revisions over the years. The 2007 revision set the value at Rs 11,000 per sq.ft, which increased to Rs 11,500 per sq.ft in 2012. However, it then decreased to Rs 7,705 per sq.ft in 2017. Following this, the 2023 revision raised the value to Rs 11,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 12,600 per sq.ft, 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 Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing K- Block, 2nd Main Road's 2024 figure above that median.

• K Block, 1st Main Road, (K Block, Ist Avenue): Rs 14,800 per sq.ft (2024)
• K Block 431A. 432 to 442 Sakthi Appartments (HIG Flat): Rs 14,800 per sq.ft (2024)
• K- Block, 6th Avenue B1, B2, 431, (Anna) Bouganvilla Apts, TNGRH Scheme: Rs 14,800 per sq.ft (2024)
• K- Block, (East)13th Street: Rs 11,500 per sq.ft (2024)
• K- Block, (East)14th Street: Rs 11,500 per sq.ft (2024)
• K- Block, (East)15th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in K- Block, 2nd Main Road, 397 to 402, 495A1, A2

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total fees to Rs 11,34,000. It is essential 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 K- Block, 2nd Main Road, 397 to 402, 495A1, A2?

The K- Block, 2nd Main Road, 397 to 402, 495A1, A2 falls under the jurisdiction of 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 Ayanavaram

The guideline value plays a crucial role in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with legal requirements during the transaction.

Frequently asked questions

What is the current guideline value for K- Block, 2nd Main Road?

The current guideline value for K- Block, 2nd Main Road, 397 to 402, 495A1, A2 is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase of 10% from Rs 11,500 per sq.ft in 2023 to Rs 12,600 per sq.ft in 2024. The value has also seen a rise from Rs 7,705 per sq.ft in 2017 to the current rate, indicating a total increase of 49% over that period.

What is the land classification for K- Block, 2nd Main Road?

The land classification for K- Block, 2nd Main Road, 397 to 402, 495A1, A2 is Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 11,34,000.

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

The Sub Registrar Office covering K- Block, 2nd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details online.