Guideline Value for O- Block, 29th Street

O- Block, 29th Street guideline value

The current guideline value of O- Block, 29th Street is Rs 9,900 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 Residential Special Type - V.

How the guideline value of O- Block, 29th Street has changed

Over the years, the guideline value of O- Block, 29th Street has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 8,000 per sq.ft. This increased to Rs 9,000 per sq.ft in 2012, but then decreased to Rs 6,030 per sq.ft in 2017. Following this, the value rose significantly to Rs 9,000 per sq.ft in 2023 and reached the current value of Rs 9,900 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw a 10% increase. The overall change from the 2007 figure to the 2024 figure is an increase of 24%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram village 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 for the village is Rs 4,900 per sq.ft, making the current value of O- Block, 29th Street above that median.

• O- Block, 30th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 31st Street: Rs 9,900 per sq.ft (2024)
• O- Block, 32nd Street: Rs 9,900 per sq.ft (2024)
• O- Block, 33rd Street: Rs 9,900 per sq.ft (2024)
• O- Block, 34th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 35th Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in O- Block, 29th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, while the registration fee at 2% would be Rs 1,98,000. Together, the total cost for stamp duty and registration would be Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers O- Block, 29th Street?

The O- Block, 29th 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 details.

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

The guideline value plays a crucial role during property registration in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives appropriate revenue from property transactions through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value to avoid any discrepancies during registration. Buyers should ensure that the sale price is not lower than the guideline value to comply with legal requirements.

Frequently asked questions

What is the current guideline value of O- Block, 29th Street?

The current guideline value of O- Block, 29th Street is Rs 9,900 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 9,900 per sq.ft in 2024, with several revisions in between. The most significant increase occurred between 2017 and 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. The guideline value for O- Block, 29th Street is above this median.

What are the stamp duty rates for property in O- Block, 29th Street?

The stamp duty for property in O- Block, 29th Street is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2%.

Which office handles the registration for O- Block, 29th Street?

The registration for O- Block, 29th Street is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.