Guideline Value for M-Block, 8th Street M- Block, 8th Street

M-Block, 8th Street M- Block, 8th Street guideline value

The current guideline value for M-Block, 8th Street M- Block, 8th 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 M-Block, 8th Street M- Block, 8th Street has changed

The guideline value for M-Block, 8th Street has seen several revisions over the years. In 2007, the guideline value was Rs 8,000 per sq.ft. This increased to Rs 10,000 per sq.ft in 2012, marking a 25% rise. However, in 2017, the value dropped to Rs 6,700 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 10,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the guideline value at Rs 11,000 per sq.ft, a 10% increase from the previous year.

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

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing M-Block, 8th Street's 2024 figure above that median.

• 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, 8th Street M- Block, 8th 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 to Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M-Block, 8th Street M- Block, 8th Street?

The M-Block, 8th Street M- Block, 8th Street is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Ayanavaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the Registration Department and reflects the official value of the property for taxation purposes.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for M-Block, 8th Street?

The current guideline value for M-Block, 8th 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 several times, starting from Rs 8,000 per sq.ft in 2007, rising to Rs 10,000 in 2012, dropping to Rs 6,700 in 2017, increasing to Rs 10,000 in 2023, and finally reaching Rs 11,000 in 2024.

What is the median guideline value in Ayanavaram?

The median guideline value in Ayanavaram is Rs 4,900 per sq.ft, which is lower than the current guideline value for M-Block, 8th Street.

What are the stamp duty and registration fees for property in M-Block, 8th Street?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles registrations for M-Block, 8th Street?

The AnnaNagar Sub Registrar Office handles registrations for M-Block, 8th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.