Guideline Value for X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club

X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club guideline value

The current guideline value for X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club is Rs 12,600 per sq.ft, effective from 1 July 2024. This property is located in Mullam village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club has changed

The guideline value has seen several revisions over the years. In 2007, the value was Rs 11,000 per sq.ft, which increased to Rs 11,500 per sq.ft in 2012, marking a 5% rise. However, from 2012 to 2017, the value decreased to Rs 7,705 per sq.ft, reflecting a decline of 33%. Following this, the value rose significantly to Rs 11,500 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 has set the value at Rs 12,600 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, the guideline value has increased by 15% from 2007 to 2024.

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 value for these streets is Rs 11,500 per sq.ft, placing X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club above this median.

• X BLock, 5th Main Road 4314 TO 4330: Rs 12,600 per sq.ft (2024)
• X- Block, 5th Street: Rs 11,500 per sq.ft (2024)
• X- Block, 6th Main Road 4330, 4359, Tower Park: Rs 12,600 per sq.ft (2024)
• Y- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• Y Block 1 St Street: Rs 12,600 per sq.ft (2024)
• Y- Block, 2nd Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club

For a 1,000 sq.ft plot at the current guideline value of Rs 12,600 per sq.ft, the total guideline value amounts to Rs 1,26,00,000. The stamp duty at 7% would be Rs 8,82,000, and the registration fee at 2% would be Rs 2,52,000, bringing the total cost for these fees to Rs 11,34,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club?

The Sub Registrar Office that covers X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club 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 Mullam

The guideline value plays a crucial role during the registration of property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the authorities will assess the guideline value to calculate the necessary fees, ensuring that they are based on the established rates rather than the sale price alone. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value for X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club?

The current guideline value for X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club 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 11,000 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024, reflecting an overall increase of 15% over the years.

What are the other streets in Mullam with their guideline values?

Other streets in Mullam include X BLock, 5th Main Road, X- Block, 5th Street, X- Block, 6th Main Road, Y- Block, 10th Street, Y Block 1 St Street, and Y- Block, 2nd Street, each with varying guideline values.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for overseeing the registration of property transactions, ensuring that all necessary fees based on the guideline value are collected and that the process is conducted legally and transparently.

How do I calculate stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.