Guideline Value for R- Block, 15th Street

R- Block, 15th Street guideline value

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

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

The guideline value for R- Block, 15th Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but 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 currently stands at Rs 11,500 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%. The value rose by 5% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 15%.

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 value is Rs 11,500 per sq.ft, which is equal to the current guideline value for R- Block, 15th Street. Below are other streets in Mullam with their respective guideline values:

• R- Block, 14th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 16th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 12th 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, 15th 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, leading to a total of Rs 10,35,000. 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 further calculations.

Which Sub Registrar Office covers R- Block, 15th Street?

The Sub Registrar Office covering R- Block, 15th Street is 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 is a critical 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 you register a property, the guideline value is compared with the sale price, and the higher of the two amounts is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

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

The current guideline value for R- 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 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, 15th Street?

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

What is the stamp duty rate for properties in R- Block, 15th Street?

The stamp duty rate for properties in R- Block, 15th Street is 7%, which is applied to the higher of the guideline value or the sale price during registration.

Where is the Sub Registrar Office for R- Block, 15th Street located?

The Sub Registrar Office for R- Block, 15th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.