Guideline Value for W-Block, Streets

W-Block, Streets guideline value

The current guideline value for W-Block, Streets is Rs 11,500 per sq.ft, effective from 1 July 2024. This area is located in Naduvakkarai village and falls under the AnnaNagar SRO, classified as Residential Special Type - II.

How the guideline value of W-Block, Streets has changed

The guideline value for W-Block, Streets has undergone several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 in 2012. However, it saw a significant drop to Rs 7,035 per sq.ft in 2017. The value then rose sharply to Rs 10,500 in 2023, and the latest revision in 2024 has brought it to Rs 11,500 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the 2012 to 2017 period saw a decrease of 33%. The change from 2007 to 2012 was a modest increase of 5%. Overall, from 2007 to 2024, the guideline value has increased by 15%.

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, which is the same as the current value for W-Block, Streets.

• W-Block, Ist 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, 3rd Main Road: Rs 12,600 per sq.ft (2024)
• W-Block, 2nd Main Road: Rs 12,600 per sq.ft (2024)
• W Block 2nd Avenue: Rs 15,900 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, Streets

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, and the registration fee at 2% would be Rs 2,30,000, bringing the total fees 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers W-Block, Streets?

The W-Block, Streets area is covered by 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 in the registration process when buying or selling property in Naduvakkarai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately with the appropriate financial obligations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's assessed value, which is determined by the guideline value set by the Registration Department.

Frequently asked questions

What is the current guideline value for W-Block, Streets?

The current guideline value for W-Block, Streets 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 in 2007 to Rs 11,500 in 2024, reflecting an overall increase of 15% over the years.

What is the land classification for W-Block, Streets?

The land classification for W-Block, Streets is Residential Special Type - II, as designated by the AnnaNagar SRO.

Where can I find the Sub Registrar Office for W-Block, Streets?

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

How is stamp duty calculated for properties in Naduvakkarai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,15,00,000, the stamp duty at 7% would be Rs 8,05,000.