Guideline Value for R- Block, 6th Avenue

R- Block, 6th Avenue guideline value

The current guideline value of R- Block, 6th Avenue is Rs 12,100 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 Class I Type - I.

How the guideline value of R- Block, 6th Avenue has changed

Over the years, the guideline value of R- Block, 6th Avenue has experienced several revisions. The earliest recorded revision is from 2007, where the guideline value was Rs 11,000 per sq.ft. This remained unchanged until the 2012 revision, which also recorded Rs 11,000 per sq.ft. However, in 2017, the value changed to Rs 7,370 per sq.ft, marking a decrease of 33%. The subsequent revisions saw significant increases, with the 2023 value rising to Rs 11,000 per sq.ft, and the latest revision in 2024 increasing it further to Rs 12,100 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 11,500 per sq.ft. The guideline value for R- Block, 6th Avenue is above this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 12,100 per sq.ft, the guideline value would be Rs 1,21,00,000. The stamp duty at 7% would amount to Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, totaling Rs 10,89,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R- Block, 6th Avenue?

The Sub Registrar Office that covers R- Block, 6th 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 critical factor during the registration of property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when completing a sale.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of R- Block, 6th Avenue?

The current guideline value of R- Block, 6th Avenue is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,000 per sq.ft in 2007, to Rs 7,370 per sq.ft in 2017, then to Rs 11,000 per sq.ft in 2023, and finally to Rs 12,100 per sq.ft in 2024.

What is the land classification for R- Block, 6th Avenue?

The land classification for R- Block, 6th Avenue is Residential Class I Type - I.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 10,89,000.

Which Sub Registrar Office should I visit for transactions in R- Block, 6th Avenue?

The AnnaNagar Sub Registrar Office covers R- Block, 6th Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.