Guideline Value for L BLOCK 27TH STREET

L Block 27th Street guideline value

The current guideline value for L Block 27th Street is Rs 14,800 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village under the AnnaNagar SRO, classified as Mixed Special Type - I.

How the guideline value of L Block 27th Street has changed

In the 2017 revision, the guideline value was Rs 9,045 per sq.ft. This figure increased significantly to Rs 13,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase to Rs 14,800 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, and L Block 27th Street's 2024 figure is above this median.

• L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A: Rs 14,800 per sq.ft (2024)
• L- Block, (East)17th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)18th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)19th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)20th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)21st Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in L Block 27th Street

For a 1,000 sq.ft plot at the current rate of Rs 14,800 per sq.ft, the guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, totaling Rs 13,32,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers L Block 27th Street?

The Sub Registrar Office that covers L Block 27th 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 Ayanavaram

The guideline value is a critical factor in the registration process for property transactions in Ayanavaram. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value for L Block 27th Street?

The current guideline value for L Block 27th Street is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 9,045 per sq.ft in 2017 to Rs 14,800 per sq.ft in 2024, reflecting a 64% rise overall. The most recent increase was from Rs 13,500 per sq.ft in 2023 to Rs 14,800 per sq.ft in 2024, which is a 10% increase.

What is the land classification for L Block 27th Street?

L Block 27th Street is classified as Mixed Special Type - I. This classification can impact the types of developments allowed in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office located for L Block 27th Street?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. This office handles all registrations for properties in the area.