Guideline Value for L-Block, 1st Avenue karpagam Colony (Mig Flats) ganga Colony (Lig Flats) Cavery Colony (Hig Flats) “l” 37, 38, 496, 496a, 507a

L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A guideline value

The current guideline value for L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Mixed Special Type - I.

How the guideline value of L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft, which remained unchanged in 2012. However, in 2017, it decreased to Rs 9,045 per sq.ft. The value then increased significantly to Rs 13,500 per sq.ft in 2023, marking a 49% rise from 2017. The most recent revision in 2024 set the value at Rs 14,800 per sq.ft, reflecting a 10% increase from the previous year.

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 10%.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values 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, placing the guideline value for L-Block, 1st Avenue Karpagam Colony above this median.

• L Block 27th Street: 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, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total 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, bringing the total fees to Rs 13,32,000. It is important 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 further calculations.

Which Sub Registrar Office covers L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A?

The Sub Registrar Office that covers this area 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 information.

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

The guideline value is a crucial factor in determining the registration fees and stamp duties when buying or selling property in Ayanavaram. It serves as a benchmark for the minimum value at which properties are registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and that the value of the property is officially recognized.

Frequently asked questions

What is the current guideline value for L-Block, 1st Avenue Karpagam Colony?

The current guideline value for L-Block, 1st Avenue Karpagam Colony (MIG Flats) Ganga Colony (LIG Flats) Cavery Colony (HIG Flats) “L” 37, 38, 496, 496A, 507A 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 changed from Rs 13,500 per sq.ft in 2007 to Rs 9,045 per sq.ft in 2017. It then increased to Rs 13,500 per sq.ft in 2023 and is currently Rs 14,800 per sq.ft as of 2024.

What is the stamp duty rate for properties in this area?

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

What are the registration fees for buying property in Ayanavaram?

The registration fee for property transactions in Ayanavaram is 2% of the guideline value or the sale price, whichever is higher. This fee is in addition to the stamp duty that must be paid.

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

The Sub Registrar Office covering L-Block, 1st Avenue Karpagam Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details by visiting the provided link.