Guideline Value for U- Block, 7th Street

U- Block, 7th Street guideline value

The current guideline value of U- Block, 7th 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 U- Block, 7th Street has changed

The guideline value for U- Block, 7th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then decreased significantly to Rs 7,035 per sq.ft in 2017. Following this, the value rose sharply to Rs 10,500 per sq.ft in 2023, and currently stands at Rs 11,500 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a +5% increase; however, from 2012 to 2017, the value decreased by -33%. The guideline value then saw a substantial increase of +49% from 2017 to 2023, followed by a +10% rise from 2023 to 2024. The overall change from 2007 to 2024 reflects a +15% increase.

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 matches the current guideline value of U- Block, 7th Street.

• U- Block, 6th 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, 7th 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, while the registration fee at 2% would be Rs 2,30,000, bringing the total fees together to 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers U- Block, 7th Street?

The U- Block, 7th Street is covered by 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 when registering a property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the financial obligations that arise from the sale. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for U- Block, 7th Street?

The current guideline value for U- Block, 7th 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 significantly, with the value in 2007 being Rs 10,000 per sq.ft, increasing to Rs 10,500 in 2012, then dropping to Rs 7,035 in 2017, and rising again to Rs 10,500 in 2023 before reaching Rs 11,500 in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for U- Block, 7th Street?

The AnnaNagar Sub Registrar Office handles registrations for U- Block, 7th Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that both buyers and sellers are aware of their financial obligations when registering a property in Mullam.