Guideline Value for W-Block, 2nd Main Road

W-Block, 2nd Main Road guideline value

The current guideline value for W-Block, 2nd Main Road is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Naduvakkarai village under the AnnaNagar SRO, classified as Residential Special Type - I.

How the guideline value of W-Block, 2nd Main Road has changed

The guideline value for W-Block, 2nd Main Road has undergone several revisions over the years. In 2012, the value was Rs 11,500 per sq.ft, which decreased to Rs 7,705 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 11,500 per sq.ft. The most recent revision in 2024 set the value at Rs 12,600 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Naduvakkarai

Naduvakkarai consists of 148 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, placing W-Block, 2nd Main Road above this median.

• W Block 2nd Avenue: Rs 15,900 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)
• X Block Second Avenue C-45A,C46,C46A, B,C 47 C48 Ayyappa Temple Avin LIC Office, Tower Block, TNHB Office: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in W-Block, 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value would be Rs 1,26,00,000. The stamp duty at 7% would amount to Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, leading to a total of Rs 11,34,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further details.

Which Sub Registrar Office covers W-Block, 2nd Main Road?

The Sub Registrar Office that covers W-Block, 2nd Main Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role during the registration of property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The amount is based on the guideline value or the sale price, whichever is higher.

When buyers and sellers engage in property transactions, it is essential to be aware of the guideline value, as it can significantly impact the overall costs involved. Accurate knowledge of the guideline value ensures that all parties are informed about the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value for W-Block, 2nd Main Road?

The current guideline value for W-Block, 2nd Main Road is Rs 12,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 per sq.ft in 2012 to Rs 7,705 per sq.ft in 2017, then increased to Rs 11,500 per sq.ft in 2023, and finally to Rs 12,600 per sq.ft in 2024.

What is the land classification for W-Block, 2nd Main Road?

The land classification for W-Block, 2nd Main Road is Residential Special Type - I.

Which Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers W-Block, 2nd Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,26,00,000, the stamp duty at 7% would be Rs 8,82,000.