Guideline Value for N- Block, 23rd Street

N- Block, 23rd Street guideline value

The current guideline value of N- Block, 23rd Street in Ayanavaram village is Rs 11,000 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the AnnaNagar SRO and is classified as Mixed Type - I.

How the guideline value of N- Block, 23rd Street has changed

Over the years, the guideline value for N- Block, 23rd Street has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 8,000 per sq.ft. This increased to Rs 10,000 per sq.ft in 2012, reflecting a rise of 25%. However, the value decreased to Rs 6,700 per sq.ft in 2017, marking a decline of 33%. Subsequently, the value surged to Rs 10,000 per sq.ft in 2023, an increase of 49%, and reached the current rate of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year. There are no figures available for the years 2002 and 2003 for this street.

From the 2007 revision to the 2024 revision, the overall increase in the guideline value is 38%. The fluctuations in the guideline value reflect changes in the real estate landscape over the years, with significant increases noted in the most recent revisions.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO that carry 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 the 2024 value of N- Block, 23rd Street above this median.

• N- Block, 22nd Street: Rs 11,000 per sq.ft (2024)
• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 21st Street: Rs 11,000 per sq.ft (2024)
• N- Block, 25th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 20th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 26th Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in N- Block, 23rd 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, 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 or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N- Block, 23rd Street?

The Sub Registrar Office that covers N- Block, 23rd Street is 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 critical role in the property registration process in Ayanavaram. It serves as the basis for calculating the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurate financial planning during property transactions. It is advisable to consult the latest guideline values before proceeding with any property transactions in Ayanavaram.

Frequently asked questions

What is the current guideline value of N- Block, 23rd Street?

The current guideline value of N- Block, 23rd 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 significantly from Rs 8,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 38% over the years.

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

Other streets in Ayanavaram that share the same guideline value of Rs 11,000 per sq.ft include N- Block, 22nd Street, N- Block, 24th Street, N- Block, 21st Street, N- Block, 25th Street, N- Block, 20th Street, and N- Block, 26th Street.

What is the stamp duty for property in N- Block, 23rd Street?

The stamp duty for property in N- Block, 23rd Street is calculated at 7% of the guideline value. For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000.

Where is the Sub Registrar Office for N- Block, 23rd Street located?

The Sub Registrar Office for N- Block, 23rd Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.