Guideline Value for W BLOCK 2ND AVENUE

W Block 2nd Avenue guideline value

The current guideline value of W Block 2nd Avenue in Naduvakkarai village is Rs 15,900 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Commercial Class I Type - I.

How the guideline value of W Block 2nd Avenue has changed

The guideline value for W Block 2nd Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 14,500 per sq.ft, which was then reduced by 33% to Rs 9,715 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 14,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the value by 10% to Rs 15,900 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 figure.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, placing W Block 2nd Avenue's 2024 figure above that median.

• W-Block, 2nd Main Road: Rs 12,600 per sq.ft (2024)
• W-Block, 3rd Main Road: Rs 12,600 per sq.ft (2024)
• W Block C-19,4664B,4665 to 4674 Second Avenue: Rs 14,800 per sq.ft (2024)
• W-Block, Ist Main Road: Rs 12,600 per sq.ft (2024)
• W-Block, Streets: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in W Block 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value amounts to Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total cost to Rs 14,31,000. 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 details.

Which Sub Registrar Office covers W Block 2nd Avenue?

The Sub Registrar Office that covers W Block 2nd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. Buyers and sellers should be aware that the guideline value may differ from the agreed sale price.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of W Block 2nd Avenue?

The current guideline value of W Block 2nd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14,500 per sq.ft in 2012 to Rs 9,715 per sq.ft in 2017, then to Rs 14,500 per sq.ft in 2023, and finally to Rs 15,900 per sq.ft in 2024.

What are the other guideline values in Naduvakkarai?

Naduvakkarai has a variety of guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, with W Block 2nd Avenue's value being above this median.

What are the stamp duty and registration fees for property in W Block 2nd Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,59,00,000. The stamp duty is Rs 11,13,000, and the registration fee is Rs 3,18,000, totaling Rs 14,31,000.

Which office handles the registration for W Block 2nd Avenue?

The AnnaNagar Sub Registrar Office handles the registration for W Block 2nd Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.