Guideline Value for V- Block, 14th Street

V- Block, 14th Street guideline value

The current guideline value of V- Block, 14th 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 V- Block, 14th Street has changed

The guideline value for V- Block, 14th Street has seen 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 dropped to Rs 7,035 per sq.ft in 2017. Following this, the value rose significantly to Rs 10,500 per sq.ft in 2023, and finally to the current rate of Rs 11,500 per sq.ft in 2024. There are no figures recorded for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision saw a 10% increase. The overall change from 2007 to 2024 reflects a 15% increase in the guideline value.

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 guideline value for these streets is Rs 11,500 per sq.ft, which is the same as the current value for V- Block, 14th Street.

• V- Block, 13th Street: Rs 11,500 per sq.ft (2024)
• V- Block, 12th Street: Rs 11,500 per sq.ft (2024)
• V- Block, 11th Street: Rs 11,500 per sq.ft (2024)
• V- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• U- Block, 7th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in V- Block, 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V- Block, 14th Street?

The Sub Registrar Office that covers V- Block, 14th 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 during the registration of property transactions in Mullam. It serves as a reference point for determining the minimum value on which stamp duty and registration fees are calculated.

When buying or selling property, the guideline value ensures that both parties are aware of the official valuation of the property. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of V- Block, 14th Street?

The current guideline value of V- Block, 14th 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, reflecting an overall increase of 15% over the years.

What is the land classification for V- Block, 14th Street?

The land classification for V- Block, 14th Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for V- Block, 14th Street?

The Sub Registrar Office for V- Block, 14th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in V- Block, 14th Street?

The 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 7%.