Guideline Value for S- Block, 16th Street

S- Block, 16th Street guideline value

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

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

Over the years, the guideline value for S- Block, 16th Street has seen several revisions. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 in 2012. However, there was a significant decrease in the 2017 revision, bringing the value down to Rs 7,035 per sq.ft. This was followed by a substantial increase to Rs 10,500 in 2023, and the latest revision in 2024 raised the value to Rs 11,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it saw a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while there was a slight increase of 5% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

Mullam village has a total of 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 for these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value for S- Block, 16th Street.

• S- Block, 17th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 18th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 19th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 20th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 21st Street: Rs 11,500 per sq.ft (2024)
• S- Block, 6th Avenue: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in S- Block, 16th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

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

The S- Block, 16th Street is covered by 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 plays a crucial role during the registration of property transactions in Mullam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

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

The current guideline value for S- 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 from Rs 10,000 in 2007 to Rs 11,500 in 2024, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

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

S- Block, 16th Street is classified as Residential Special Type - II, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 10,35,000 based on the current guideline value.

Which Sub Registrar Office covers this area?

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