Guideline Value for U- Block, 6th Street

U- Block, 6th Street guideline value

The current guideline value of U- Block, 6th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of U- Block, 6th Street has changed

The guideline value for U- Block, 6th Street has seen several revisions over the years. In 2007, the value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, there was a decrease in 2017, bringing the value down to Rs 7,035 per sq.ft. This was followed by a significant increase to Rs 10,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 11,500 per sq.ft.

Between the revisions, the changes were notable: from 2017 to 2023, there was a 49% increase; from 2012 to 2017, a decrease of 33%; and from 2007 to 2012, a slight increase of 5%. 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

Mullam village has a total of 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 value is Rs 11,500 per sq.ft, which is the same as the guideline value for U- Block, 6th Street.

• U- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 11th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• V- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• V- Block, 11th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in U- Block, 6th 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, calculated at 7%, would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers U- Block, 6th Street?

The Sub Registrar Office that covers U- Block, 6th 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 crucial factor during the registration of property transactions in Mullam. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers need to be aware of the guideline value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the total cost of the transaction. It is essential for buyers to understand that the duty is charged based on the higher of the guideline value or the sale price, ensuring that they are prepared for the financial implications of their purchase.

Frequently asked questions

What is the current guideline value of U- Block, 6th Street?

The current guideline value of U- Block, 6th 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 various revisions occurring in between.

What is the land classification for U- Block, 6th Street?

The land classification for U- Block, 6th Street is Residential Special Type - II.

Where is the Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in U- Block, 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 8,05,000 based on the current guideline value.