Guideline Value for R- Block, 14th Street

R- Block, 14th Street guideline value

The current guideline value for R- Block, 14th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - II.

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

The guideline value for R- Block, 14th Street has seen several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, followed by a decrease to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023, and most recently, it reached Rs 11,500 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 5%; however, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

In Mullam village, there are 119 streets under the AnnaNagar SRO that have a 2024 guideline value 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 for R- Block, 14th Street.

• R- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 15th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 12th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 16th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 6th Avenue: Rs 12,100 per sq.ft (2024)
• S- Block, 16th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in R- Block, 14th 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 to Rs 10,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers R- Block, 14th Street 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 details.

How the guideline value is used when you buy or sell in Mullam

The guideline value is a crucial factor when buying or selling property in Mullam, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must refer to the current guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value ensures that the transaction is recorded accurately and fairly, reflecting the value of the property in the current market. This helps maintain transparency in property dealings within the region.

Frequently asked questions

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

The current guideline value for R- Block, 14th 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, with various increases and decreases in between. The most significant increase was from 2017 to 2023, where it rose by 49%.

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

Other streets in Mullam with the same guideline value of Rs 11,500 per sq.ft in 2024 include R- Block, 13th Street, R- Block, 15th Street, R- Block, 12th Street, and R- Block, 16th Street.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%. This is calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for R- Block, 14th Street?

The Sub Registrar Office for R- Block, 14th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details online.