Guideline Value for S- Block, 6th Avenue

S- Block, 6th Avenue guideline value

The current guideline value for S- Block, 6th Avenue in Mullam village is Rs 12,100 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Residential Class I Type - I.

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

In the 2007 revision, the guideline value for S- Block, 6th Avenue was Rs 11,000 per sq.ft. This figure remained unchanged in the 2012 revision, which also recorded Rs 11,000 per sq.ft. However, in the 2017 revision, the value increased significantly to Rs 7,370 per sq.ft, marking a decrease of 33%. The 2023 revision saw another increase to Rs 11,000 per sq.ft, followed by a further rise to Rs 12,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mullam

In Mullam, the guideline values for 119 streets under the AnnaNagar SRO range from Rs 4,400 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. The current guideline value for S- Block, 6th Avenue is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total 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, bringing the total to Rs 10,89,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

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

The S- Block, 6th Avenue is covered by 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 crucial factor in property transactions in Mullam, as it determines the minimum value at which a property can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

At the time of registration, the authorities will assess the property based on the guideline value or the sale price, whichever is higher. This means that understanding the current guideline value is essential for accurate budgeting during a property transaction.

Frequently asked questions

What is the current guideline value for S- Block, 6th Avenue?

The current guideline value for S- 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 seen several revisions, with the most recent being an increase from Rs 11,000 per sq.ft in 2023 to Rs 12,100 per sq.ft in 2024. The value has changed significantly from Rs 7,370 per sq.ft in 2017 to Rs 11,000 in 2023, marking a 49% increase.

What are the stamp duty and registration fees for property in S- Block, 6th Avenue?

For a property valued at Rs 1,21,00,000, the stamp duty would be Rs 8,47,000, and the registration fee would be Rs 2,42,000, totaling Rs 10,89,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

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

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

S- Block, 6th Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.