Guideline Value for N- Block, 21st Street

N- Block, 21st Street guideline value

The current guideline value for N- Block, 21st 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 N- Block, 21st Street has changed

The guideline value for N- Block, 21st 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, reflecting a 25% rise. However, by 2017, the value dropped to Rs 6,700 per sq.ft, marking a decrease of 33%. The value then rose significantly to Rs 10,000 per sq.ft in 2023, which was a 49% increase from the 2017 figure.

As of the 2024 revision, the guideline value stands at Rs 11,000 per sq.ft, representing a 10% increase from the previous year. 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 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft as of 2024. The median guideline value for the village is Rs 4,900 per sq.ft, and N- Block, 21st Street's 2024 figure is above this median.

• N- Block, 20th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 22nd Street: Rs 11,000 per sq.ft (2024)
• N- Block 19th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 23rd Street: Rs 11,000 per sq.ft (2024)
• N- Block, 18th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in N- Block, 21st Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the 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, totaling Rs 9,90,000. 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 N- Block, 21st Street?

The N- Block, 21st Street falls under the jurisdiction of 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 during property registration in Ayanavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers must be aware that the stamp duty is charged based on the higher of the guideline value or the sale price of the property.

Understanding the guideline value helps both buyers and sellers in making informed decisions during property transactions. It ensures that all parties are aware of the minimum value recognized by the government for taxation purposes.

Frequently asked questions

What is the current guideline value for N- Block, 21st Street?

The current guideline value for N- Block, 21st 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 undergone several revisions, starting from Rs 8,000 per sq.ft in 2007, dropping to Rs 6,700 per sq.ft in 2017, and then increasing to Rs 10,000 per sq.ft in 2023, finally reaching Rs 11,000 per sq.ft in 2024.

What is the land classification for N- Block, 21st Street?

N- Block, 21st Street is classified as Mixed Type - I, which indicates the type of land use permitted in the area.

What are the other streets with the same guideline value in Ayanavaram?

Several other streets in Ayanavaram also have a guideline value of Rs 11,000 per sq.ft for 2024, including N- Block, 20th Street, N- Block, 22nd Street, N- Block 19th Street, N- Block, 23rd Street, N- Block, 18th Street, and N- Block, 24th Street.

How is stamp duty calculated for properties in N- Block, 21st Street?

Stamp duty for properties in N- Block, 21st Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000.