Guideline Value for R- Block, 16th Street

R- Block, 16th Street guideline value

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

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

Over the years, the guideline value for R- Block, 16th Street has seen several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, a rise of 5%. However, from 2012 to 2017, the value decreased significantly to Rs 7,035 per sq.ft, marking a decline of 33%. The 2017 revision then saw a substantial increase to Rs 10,500 per sq.ft in 2023, which was a 49% rise. The latest revision in 2024 has further increased the value to Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

The guideline value has not been recorded for the years 2002 and 2003 for this street, so no figures are available for those years. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

The village of Mullam has a range of guideline values for its 119 streets under the AnnaNagar SRO, with figures for 2024 ranging 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 guideline value for R- Block, 16th Street.

• R- Block, 15th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 14th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• R- Block, 6th Avenue: Rs 12,100 per sq.ft (2024)
• R- Block, 12th Street: Rs 11,500 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, 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, charged 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, 16th Street?

The Sub Registrar Office that covers R- Block, 16th 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 in property transactions in Mullam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally compliant.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. Understanding how the guideline value applies can help in making informed decisions when engaging in property transactions in Mullam.

Frequently asked questions

What is the current guideline value for R- Block, 16th Street?

The current guideline value for R- 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 changed several times, with the most recent increase being from Rs 10,500 per sq.ft in 2023 to Rs 11,500 per sq.ft in 2024, a rise of 10%. Overall, from 2007 to 2024, the guideline value has increased by 15%.

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

The AnnaNagar Sub Registrar Office covers R- Block, 16th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in R- Block, 16th Street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

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

R- Block, 16th Street is classified as Residential Special Type - II under the AnnaNagar SRO.