Guideline Value for M Block 9th Street

M Block 9th Street guideline value

The current guideline value of M Block 9th Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village, under the AnnaNagar SRO, classified as Mixed Type - I.

How the guideline value of M Block 9th Street has changed

The guideline value for M Block 9th Street has undergone 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, followed by a decrease to Rs 6,700 per sq.ft in 2017. Subsequently, the value rose significantly to Rs 10,000 per sq.ft in 2023, and the most recent revision in 2024 established the current rate at Rs 11,000 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The transition from 2012 to 2017 saw a decrease of 33%, while the value rose by 25% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 38%.

Guideline values in Ayanavaram

Ayanavaram has 369 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing M Block 9th Street's 2024 figure above that median.

• M Block 10 Street: Rs 11,000 per sq.ft (2024)
• Medavakkam Tank Road: Rs 6,600 per sq.ft (2024)
• Market Road: Rs 4,900 per sq.ft (2024)
• Mettu Street: Rs 5,500 per sq.ft (2024)
• Mettu Street Lane: Rs 3,800 per sq.ft (2024)
• M.G.R. Street, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in M Block 9th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, while the registration fee at 2% would be Rs 2,20,000. Together, the total cost for these fees would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M Block 9th Street?

The Sub Registrar Office that covers M Block 9th 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Ayanavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the fees are calculated based on a standard value set by the government.

When a property is bought or sold, the guideline value helps in establishing a fair and transparent process for both parties involved. It is essential for buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of M Block 9th Street?

The current guideline value of M Block 9th 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, with various revisions in between. The most significant increase occurred from 2017 to 2023, where it rose by 49%.

What is the land classification for M Block 9th Street?

M Block 9th Street is classified as Mixed Type - I, which indicates the type of development allowed in the area.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in M Block 9th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 7,70,000.