Guideline Value for N- Block, 27th Street

N- Block, 27th Street guideline value

The current guideline value for N- Block, 27th 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, 27th Street has changed

The guideline value for N- Block, 27th 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 decreased to Rs 6,700 per sq.ft, which was a decline of 33%. From 2017 to 2023, the value increased significantly to Rs 10,000 per sq.ft, reflecting a 49% rise. 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 in the register for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, there has been an increase of 38% in the guideline value.

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 in this area is Rs 4,900 per sq.ft, making the 2024 figure for N- Block, 27th Street above the median.

• N- Block, 26th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 25th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 24th Street: Rs 11,000 per sq.ft (2024)
• N- Block, 23rd 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, 27th 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, making the total fees together 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 further calculations.

Which Sub Registrar Office covers N- Block, 27th Street?

The N- Block, 27th 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. 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 in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements during the transaction.

When a property is sold, the guideline value helps in establishing a clear and fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value for N- Block, 27th Street?

The current guideline value for N- Block, 27th 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. There were fluctuations, including a decrease to Rs 6,700 per sq.ft in 2017 and increases in subsequent years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would be Rs 9,90,000.

Which office handles the registration for N- Block, 27th Street?

The AnnaNagar Sub Registrar Office handles the registration for N- Block, 27th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum price for property registration and is used to calculate stamp duty and registration fees. It ensures compliance with legal requirements during property transactions.