Guideline Value for X- Block, 5th Street

X- Block, 5th Street guideline value

The current guideline value for X- Block, 5th Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of X- Block, 5th Street has changed

Over the years, the guideline value for X- Block, 5th Street has undergone several revisions. The 2017 revision recorded a value of Rs 7,035 per sq.ft, which increased to Rs 10,500 per sq.ft in 2023. The latest revision in 2024 has further increased this value to Rs 11,500 per sq.ft, reflecting a 10% rise from the previous year. Notably, the register has no figures for the years 2002 and 2003.

Looking back, the value in 2012 was Rs 10,500 per sq.ft, which was a decrease of 33% from the 2017 figure. The 2007 revision showed a value of Rs 10,000 per sq.ft, which increased by 5% to reach Rs 10,500 in 2012. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

In Mullam, there are 119 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median guideline value is Rs 11,500 per sq.ft, which is equal to the current value of X- Block, 5th Street.

• X BLock, 5th Main Road 4314 TO 4330: Rs 12,600 per sq.ft (2024)
• X- Block, 3rd Main Road 4314, 4375, Tower park, Tower Club: Rs 12,600 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, 5th Street

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 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 precise calculations.

Which Sub Registrar Office covers X- Block, 5th Street?

The Sub Registrar Office that covers X- Block, 5th Street 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 in the registration process when buying or selling property in Mullam. It is used to determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of X- Block, 5th Street?

The current guideline value of X- Block, 5th 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 7,035 per sq.ft in 2017 to Rs 10,500 in 2023, and then to Rs 11,500 in 2024. This reflects a significant increase over the years.

What is the land classification for X- Block, 5th Street?

X- Block, 5th Street is classified as Residential Special Type - II under the AnnaNagar SRO.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in this area is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for X- Block, 5th Street?

The Sub Registrar Office for X- Block, 5th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.