Guideline Value for T- Block, 1st Street

T- Block, 1st Street guideline value

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

How the guideline value of T- Block, 1st Street has changed

In the 2017 revision, the guideline value for T- Block, 1st Street was Rs 7,035 per sq.ft. This figure increased to Rs 10,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 11,500 per sq.ft.

Prior to the 2017 revision, the 2012 guideline value was Rs 10,500 per sq.ft, which represented a decrease of 33% from the 2007 figure of Rs 10,000 per sq.ft. There are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Mullam

Mullam village has 119 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, which is equal to the current value for T- Block, 1st Street.

• T- Block, 11th Street: Rs 11,500 per sq.ft (2024)
• T- Block, 10th 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)
• U- Block, 11th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in T- Block, 1st 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 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 detailed calculations.

Which Sub Registrar Office covers T- Block, 1st Street?

The Sub Registrar Office that covers T- Block, 1st 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 more information.

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

The guideline value is a critical factor in property transactions in Mullam, as it serves as a benchmark for determining the stamp duty and registration fees. When buying or selling property, the guideline value is considered alongside the sale price to assess the applicable duties.

This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction. It is advisable to consult the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for T- Block, 1st Street?

The current guideline value for T- Block, 1st 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 seen several changes, from Rs 7,035 per sq.ft in 2017 to Rs 10,500 per sq.ft in 2023, and then to Rs 11,500 per sq.ft in 2024. This reflects a significant increase over the years.

What are the other streets in Mullam with the same guideline value?

Other streets in Mullam that share the same guideline value of Rs 11,500 per sq.ft include T- Block, 11th Street, T- Block, 10th Street, T- Block, 8th Street, T- Block, 9th Street, U- Block, 10th Street, and U- Block, 11th Street.

Where can I find the Sub Registrar Office for T- Block, 1st Street?

The Sub Registrar Office for T- Block, 1st Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Mullam?

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