Guideline Value for P-Block 22nd Street

P-Block 22nd Street guideline value

The current guideline value for P-Block 22nd Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of P-Block 22nd Street has changed

The guideline value for P-Block 22nd Street has seen significant changes over the years. The 2017 revision set the value at Rs 7,035 per sq.ft. This increased to Rs 10,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 11,500 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value among these streets is Rs 11,500 per sq.ft, which is the same as the guideline value for P-Block 22nd Street.

• P- Block, 21th Street: Rs 11,500 per sq.ft (2024)
• P Block 3rd Avenue Sri Ramadevi Mandir 3703B Church K4 Police Staion: Rs 15,900 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)
• P- Block, 17th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in P-Block 22nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. 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 accurate calculations.

Which Sub Registrar Office covers P-Block 22nd Street?

The Sub Registrar Office that covers P-Block 22nd Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mullam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of P-Block 22nd Street?

The current guideline value of P-Block 22nd Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 7,035 per sq.ft to Rs 11,500 per sq.ft, which is an overall increase of 63%.

What was the guideline value in 2023?

The guideline value for P-Block 22nd Street in 2023 was Rs 10,500 per sq.ft.

Which Sub Registrar Office should I visit for transactions in P-Block 22nd Street?

The AnnaNagar Sub Registrar Office is the designated office for transactions in P-Block 22nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Mullam?

Stamp duty for properties in Mullam is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.