Guideline Value for T- Block, 8th Street

T- Block, 8th Street guideline value

The current guideline value of T- Block, 8th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of T- Block, 8th Street has changed

The guideline value for T- Block, 8th Street has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, before dropping to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023, and finally reached Rs 11,500 per sq.ft in the 2024 revision.

In terms of percentage changes, the value increased by 5% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, 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 village, 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 value of T- Block, 8th Street.

• T- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• T- Block, 1st Street: Rs 11,500 per sq.ft (2024)
• T- Block, 11th Street: Rs 11,500 per sq.ft (2024)
• T- Block, 10th 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, 8th 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T- Block, 8th Street?

The Sub Registrar Office that covers T- Block, 8th 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 plays a crucial role in the registration process when buying or selling property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered alongside the sale price to calculate the applicable fees. The duty is charged based on the higher of the two amounts, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of T- Block, 8th Street?

The current guideline value of T- Block, 8th 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 undergone several revisions, starting from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for T- Block, 8th Street?

T- Block, 8th Street is classified as Residential Special Type - II under the AnnaNagar SRO.

Where can I find the Sub Registrar Office for T- Block, 8th Street?

The Sub Registrar Office for T- Block, 8th 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 higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.