Guideline Value for S- Block, 18th Street

S- Block, 18th Street guideline value

The current guideline value for S- Block, 18th Street in Mullam village is Rs 11,500 per sq.ft, as per the 2024 revision effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of S- Block, 18th Street has changed

The guideline value for S- Block, 18th Street has seen several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft, which then increased to Rs 10,500 per sq.ft in 2012. However, there was a decrease to Rs 7,035 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and now stands at Rs 11,500 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From the 2017 revision to the 2023 revision, the value increased by 49%. The jump from 2023 to 2024 reflects a 10% increase. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 15%.

Guideline values in Mullam

The guideline values in Mullam show a range from Rs 4,400 to Rs 15,900 per sq.ft, with the median value being Rs 11,500 per sq.ft. The guideline value for S- Block, 18th Street aligns with this median rate.

• S- Block, 17th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 19th Street: Rs 11,500 per sq.ft (2024)
• S- Block, 16th 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, 18th 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 fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S- Block, 18th Street?

The S- Block, 18th 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 in the registration process of property transactions in Mullam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the applicable taxes. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for S- Block, 18th Street?

The current guideline value for S- Block, 18th 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 S- Block, 18th Street?

S- Block, 18th Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for S- Block, 18th Street?

The Sub Registrar Office for S- Block, 18th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 at a rate of 7%.