Guideline Value for R- Block, 12th Street

R- Block, 12th Street guideline value

The current guideline value for R- Block, 12th Street in Mullam village under the AnnaNagar SRO is Rs 11,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of R- Block, 12th Street has changed

The guideline value for R- Block, 12th Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, marking a rise of 5%. However, it then decreased to Rs 7,035 per sq.ft in 2017, a significant drop of 33%. The value rebounded to Rs 10,500 per sq.ft in 2023, showing an increase of 49%. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

Mullam village features a range of guideline values across its 119 streets under the AnnaNagar SRO, with values varying from Rs 4,400 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, which is the same as the current value for R- Block, 12th Street. Below are the guideline values for other streets in Mullam:

• R- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 14th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 15th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 16th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 3rd Main Road 3730, 3755, 3756, 3793, to 3797: Rs 12,600 per sq.ft (2024)
• R- Block, 4th Main Road 3809, 3810, 3865 to 3873, 3895, 3895A: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in R- Block, 12th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R- Block, 12th Street?

The R- Block, 12th Street is covered by 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 during the registration process when buying or selling property in Mullam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for R- Block, 12th Street?

The current guideline value for R- Block, 12th 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 from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 15% over the years.

What is the land classification for R- Block, 12th Street?

R- Block, 12th Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for R- Block, 12th Street?

The Sub Registrar Office covering R- Block, 12th Street is the AnnaNagar Sub Registrar Office, 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 higher of the guideline value or the sale price. The current rate for stamp duty is 7%, and there is also a registration fee of 2% of the guideline value.