Guideline Value for Q- Block, 16th Street

Q- Block, 16th Street guideline value

The current guideline value for Q- Block, 16th Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of Q- Block, 16th Street has changed

The guideline value for Q- Block, 16th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, 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 most recently, it has been revised to Rs 11,500 per sq.ft in 2024.

Specifically, the changes between revisions are as follows: from 2007 to 2012, there was a +5% increase, followed by a -33% decrease from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, a +10% rise from 2023 to 2024. The overall change from 2007 to 2024 is +15%.

Guideline values in Mullam

Mullam village has a range of guideline values across its 119 streets under the AnnaNagar SRO, with values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value of Q- Block, 16th Street.

• Q- Block, 15th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 17th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 14th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• Q-Block 3rd MainRoad 3730, 3755, 3756, 3793, to 3797: Rs 12,600 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)

Stamp duty and registration fee for property in Q- Block, 16th 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 cost to Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Q- Block, 16th Street?

The Q- Block, 16th 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 during the registration of property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Q- Block, 16th Street?

The current guideline value of Q- Block, 16th 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 experienced several changes, starting from Rs 10,000 per sq.ft in 2007, rising to Rs 10,500 in 2012, then dropping to Rs 7,035 in 2017, and increasing to Rs 10,500 in 2023, before reaching Rs 11,500 in 2024.

What is the land classification for Q- Block, 16th Street?

Q- Block, 16th Street is classified as Residential Special Type - II under the current guidelines.

What are the registration fees applicable for properties in Q- Block, 16th Street?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,15,00,000 would incur a stamp duty of Rs 8,05,000 and a registration fee of Rs 2,30,000.

Where can I find the Sub Registrar Office for Q- Block, 16th Street?

The Sub Registrar Office covering Q- Block, 16th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.