Guideline Value for Q- Block, 14th Street

Q- Block, 14th Street guideline value

The current guideline value for Q- Block, 14th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village under the AnnaNagar SRO, classified as Residential Special Type - II.

How the guideline value of Q- Block, 14th Street has changed

Over the years, the guideline value of Q- Block, 14th Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it then decreased to Rs 7,035 per sq.ft in 2017. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and finally reached Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period had a modest increase of 5%. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

In Mullam village, 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, with a median value of Rs 11,500 per sq.ft. Q- Block, 14th Street's 2024 figure aligns with this median.

• Q- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 15th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 16th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 17th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony: Rs 15,900 per sq.ft (2024)
• Q-Block 3rd MainRoad 3730, 3755, 3756, 3793, to 3797: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in Q- Block, 14th Street

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the 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, totaling Rs 10,35,000. 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 more details.

Which Sub Registrar Office covers Q- Block, 14th Street?

The Sub Registrar Office covering Q- Block, 14th 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 plays a crucial role in property transactions in Mullam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must refer to the current guideline value to ensure they are paying the correct fees during the registration process.

When a property is sold, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This ensures that the government receives the appropriate revenue based on the established guideline values, which are periodically revised to reflect market conditions.

Frequently asked questions

What is the current guideline value for Q- Block, 14th Street?

The current guideline value for Q- Block, 14th Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, an overall increase of 15% over the years.

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

Other streets in Mullam that share the same guideline value of Rs 11,500 per sq.ft in 2024 include Q- Block, 13th Street, Q- Block, 15th Street, Q- Block, 16th Street, and Q- Block, 17th Street.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Mullam?

Stamp duty for properties in Mullam is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 at a rate of 7%.