Guideline Value for T- Block, 11th Street

T- Block, 11th Street guideline value

The current guideline value of T- Block, 11th 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 T- Block, 11th Street has changed

The guideline value for T- Block, 11th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in the 2012 revision, but then dropped to Rs 7,035 per sq.ft in the 2017 revision. Following this, the value significantly rose to Rs 10,500 per sq.ft in the 2023 revision, and finally, it has reached Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%. 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. The median value is Rs 11,500 per sq.ft, which is equal to the current guideline value of T- Block, 11th Street.

• T- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• T- Block, 1st Street: Rs 11,500 per sq.ft (2024)
• T- Block, 8th Street: Rs 11,500 per sq.ft (2024)
• T- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 10th 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 T- Block, 11th 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, resulting in a total of 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 T- Block, 11th Street?

The Sub Registrar Office covering T- Block, 11th 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 further assistance.

How the guideline value is used when you buy or sell in Mullam

The guideline value is a crucial aspect of 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 stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost involved in the registration process. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of T- Block, 11th Street?

The current guideline value of T- Block, 11th 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, with several revisions in between, including a drop to Rs 7,035 per sq.ft in 2017.

What is the land classification for T- Block, 11th Street?

T- Block, 11th Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the registration office for T- Block, 11th Street?

The registration office for T- Block, 11th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Mullam?

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%.