Guideline Value for M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library)

M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) guideline value

The current guideline value for M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village under the AnnaNagar SRO, and the land classification is Mixed Special Type - I.

How the guideline value of M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) has changed

Since the 2007 revision, the guideline value for M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) has increased by 10%, reaching Rs 14,800 per sq.ft in the 2024 revision. The earlier revisions show a significant increase from Rs 9,045 per sq.ft in 2017 to Rs 13,500 per sq.ft in 2023, marking a 49% rise. The 2012 revision was Rs 13,500 per sq.ft, which was a decrease of 33% from Rs 9,045 per sq.ft in 2017. The 2007 revision also recorded Rs 13,500 per sq.ft, indicating no change from the 2012 figure.

The register has no figure for the years 2002 and 2003 for this street. Thus, the changes in the guideline value reflect the adjustments made over the years, with the most recent increase of 10% from 2023 to 2024.

Guideline values in Ayanavaram

In Ayanavaram, there are 369 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) has a guideline value above this median, reflecting its unique position.

• M Block 9th Street: Rs 11,000 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library)

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 together to Rs 13,32,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library)?

The Sub Registrar Office that covers M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) 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 properties in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with the official valuation set by the authorities.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library)?

The current guideline value for M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) 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 seen several changes, with the most recent increase of 10% from Rs 13,500 per sq.ft in 2023 to Rs 14,800 per sq.ft in 2024. The value has increased significantly from Rs 9,045 per sq.ft in 2017 to Rs 13,500 per sq.ft in 2023.

What are the registration fees for properties in this area?

The registration fees for properties in M Block, Ist Avenue N- Block, 1st Avenue 3611 E & F (Library) include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the 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 does the guideline value affect property transactions?

The guideline value affects property transactions by serving as a minimum benchmark for registration, which influences the stamp duty and registration fees that buyers must pay. It is essential for buyers and sellers to consider this value during property transactions.