Guideline Value for L- Block, (East)23rd Street

L- Block, (East)23rd Street guideline value

The current guideline value of L- Block, (East)23rd Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Mixed Type - I.

How the guideline value of L- Block, (East)23rd Street has changed

The guideline value for L- Block, (East)23rd Street has seen several revisions over the years. In 2007, the value was set at Rs 8,000 per sq.ft. This increased to Rs 10,000 per sq.ft in 2012, marking a 25% rise. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 10,000 per sq.ft in 2023, which was a 49% increase from the previous figure. The latest revision in 2024 has set the guideline value at Rs 11,000 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 38%.

Guideline values in Ayanavaram

In Ayanavaram, there are a total of 369 streets under the AnnaNagar SRO that have a 2024 guideline value, ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, placing L- Block, (East)23rd Street above this median.

• L- Block, (East)21st Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)24th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)20th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)25th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)19th Street: Rs 11,000 per sq.ft (2024)
• L- Block, (East)26th Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in L- Block, (East)23rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total charges to Rs 9,90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers L- Block, (East)23rd Street?

The Sub Registrar Office that covers L- Block, (East)23rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). For further information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When you buy or sell property, the guideline value will impact the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures compliance with local regulations and helps in maintaining transparency in property transactions.

Frequently asked questions

What is the current guideline value of L- Block, (East)23rd Street?

The current guideline value of L- Block, (East)23rd Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 38% over the years.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, with L- Block, (East)23rd Street's 2024 value being above this median.

What are the stamp duty rates for property in this area?

The stamp duty rate for property transactions in this area is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for L- Block, (East)23rd Street?

The Sub Registrar Office for L- Block, (East)23rd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.