Guideline Value for P- Block-Tower View Flats (6th Avenue)

P- Block-Tower View Flats (6th Avenue) guideline value

The current guideline value for P- Block-Tower View Flats (6th Avenue) is Rs 12,100 per sq.ft, effective from 1 July 2024. This property is located in Mullam village, under the AnnaNagar SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of P- Block-Tower View Flats (6th Avenue) has changed

The guideline value for P- Block-Tower View Flats has seen several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft. This remained unchanged until the 2012 revision, where it also stood at Rs 11,000 per sq.ft. However, in 2017, the value decreased to Rs 7,370 per sq.ft, marking a significant drop of 33%. The next revision in 2023 saw a substantial increase to Rs 11,000 per sq.ft, followed by the current figure of Rs 12,100 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 10%.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, placing the 2024 guideline value of P- Block-Tower View Flats above this median.

• P Block 3rd Avenue Sri Ramadevi Mandir 3703B Church K4 Police Staion: Rs 15,900 per sq.ft (2024)
• P-Block 22nd Street: Rs 11,500 per sq.ft (2024)
• P-Block, 21th Street: Rs 11,500 per sq.ft (2024)
• P-Block, 20th Street: Rs 11,500 per sq.ft (2024)
• P-Block, 19th Street: Rs 11,500 per sq.ft (2024)
• P-Block, 18th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in P- Block-Tower View Flats (6th Avenue)

For a 1,000 sq.ft plot at the current rate of Rs 12,100 per sq.ft, the guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, making the total Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P- Block-Tower View Flats (6th Avenue)?

The P- Block-Tower View Flats (6th Avenue) is covered by 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 Mullam

The guideline value plays a crucial role in the registration process when buying or selling property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these charges are calculated based on the official value set by the government.

When a property transaction occurs, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the registration process is transparent and reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for P- Block-Tower View Flats?

The current guideline value for P- Block-Tower View Flats (6th Avenue) is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,000 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 7,370 per sq.ft in 2017.

What is the median guideline value in Mullam?

The median guideline value for properties in Mullam is Rs 11,500 per sq.ft, with P- Block-Tower View Flats' current value being above this median.

What are the stamp duty and registration fees for P- Block-Tower View Flats?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 10,89,000.

Which office handles registrations for P- Block-Tower View Flats?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, is responsible for handling registrations for P- Block-Tower View Flats (6th Avenue).