Guideline Value for N- BlocK, 25th Street

N- BlocK, 25th Street guideline value

The current guideline value of N- BlocK, 25th 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 N- BlocK, 25th Street has changed

The guideline value for N- BlocK, 25th Street has seen several revisions over the years. In 2007, the value was Rs 8,000 per sq.ft, which increased to Rs 10,000 per sq.ft in 2012, marking a 25% rise. However, the value then decreased to Rs 6,700 per sq.ft in 2017, representing a decline of 33%. By 2023, the guideline value had risen significantly to Rs 10,000 per sq.ft, and in the latest revision for 2024, it stands at Rs 11,000 per sq.ft, reflecting a 10% increase.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a net increase of 38%. The register has no figures for the years 2002 and 2003 for this street.

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 N- BlocK, 25th Street above that median.

• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 26th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 23rd Street: Rs 11,000 per sq.ft (2024)
• N- Block, 27th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 22nd Street: Rs 11,000 per sq.ft (2024)
• N- Block, 21st Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in N- BlocK, 25th 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 fees to Rs 9,90,000. 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 N- BlocK, 25th Street?

The Sub Registrar Office that covers N- BlocK, 25th 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 is a crucial factor when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid disputes during the registration process.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are transparent and adhere to the prescribed legal framework.

Frequently asked questions

What is the current guideline value of N- BlocK, 25th Street?

The current guideline value of N- BlocK, 25th 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 increases and a decrease in between. The most significant increase was from 2017 to 2023, where it rose by 49%.

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 value of N- BlocK, 25th Street.

What are the registration fees for property in N- BlocK, 25th Street?

The registration fees for a property in N- BlocK, 25th Street include a stamp duty of 7% and a registration fee of 2%. For example, for a plot valued at Rs 1,10,00,000, the total fees would be Rs 9,90,000.

Where is the Sub Registrar Office for N- BlocK, 25th Street located?

The Sub Registrar Office for N- BlocK, 25th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.