Guideline Value for Q- Block, 15th Street

Q- Block, 15th Street guideline value

The current guideline value for Q- Block, 15th Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Q- Block, 15th Street has changed

The guideline value for Q- Block, 15th Street has seen several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it then decreased significantly to Rs 7,035 per sq.ft in 2017. The value rebounded to Rs 10,500 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, from 2017 to 2023, the value increased by 49%. The change from 2012 to 2017 was a decrease of 33%, while the increase from 2007 to 2012 was 5%. Overall, from 2007 to 2024, the guideline value has risen by 15%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO with 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, which is equal to the guideline value of Q- Block, 15th Street.

• Q- Block, 14th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 16th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 13th 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, 15th 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, bringing the total to 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, 15th Street?

The Q- Block, 15th 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 Mullam

The guideline value is a crucial factor in the registration process when buying or selling property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately with the government authorities.

When a property is sold, the guideline value helps in establishing the minimum price at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions, which is essential for funding public services and infrastructure.

Frequently asked questions

What is the current guideline value for Q- Block, 15th Street?

The current guideline value for Q- Block, 15th Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase of 10% from Rs 10,500 per sq.ft in 2023 to Rs 11,500 per sq.ft in 2024. The value has also seen significant fluctuations in previous years.

What is the land classification for Q- Block, 15th Street?

Q- Block, 15th Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the AnnaNagar Sub Registrar Office?

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 is calculated based on the guideline value or the sale price of the property, whichever is higher. 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 7%.