Guideline Value for Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony

Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony guideline value

The current guideline value for Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony is Rs 15,900 per sq.ft, effective from 1 July 2024. This area is located in Mullam village and falls under the AnnaNagar SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony has changed

Over the years, the guideline value for Q- Block, 3rd Avenue has seen several revisions. The 2007 revision set the value at Rs 13,500 per sq.ft, which increased to Rs 14,500 per sq.ft in the 2012 revision. However, it decreased to Rs 9,715 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 14,500 per sq.ft in the 2023 revision, and currently stands at Rs 15,900 per sq.ft from the 2024 revision. The changes between these revisions include a 7% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a further 10% increase from 2023 to 2024.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 18%.

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 guideline value for these streets is Rs 11,500 per sq.ft, placing Q- Block, 3rd Avenue above this median.

• Q- Block, 17th 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, 16th Street: Rs 11,500 per sq.ft (2024)
• Q- Block, 15th 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)

Stamp duty and registration fee for property in Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value amounts to Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total to Rs 14,31,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony?

The Sub Registrar Office that covers Q- Block, 3rd Avenue is 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 applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Q- Block, 3rd Avenue?

The current guideline value for Q- Block, 3rd Avenue 3694A, 3695 to 3700, 3700A, 3701 to 3703, Shanthi Colony is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,500 per sq.ft in 2007 to Rs 15,900 per sq.ft in 2024, with various increases and decreases over the years.

What is the land classification for this area?

The land classification for Q- Block, 3rd Avenue is Commercial Class I Type - I.

Where can I find the registration office for this property?

The registration office for Q- Block, 3rd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty rate applicable for property transactions?

The stamp duty rate applicable for property transactions in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.