Guideline Value for Y BLOCK 1 ST STREET

Y Block 1 St Street guideline value

The current guideline value of Y Block 1 St Street in Mullam village under the AnnaNagar SRO is Rs 12,600 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification.

How the guideline value of Y Block 1 St Street has changed

The guideline value for Y Block 1 St Street has seen several revisions over the years. The earliest available figure is from 2007, which was Rs 10,000 per sq.ft. This value increased to Rs 10,500 per sq.ft in 2012, but then dropped to Rs 7,705 per sq.ft in 2017. The value rebounded to Rs 11,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 12,600 per sq.ft. The register has no figures for the years 2002 and 2003.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 5%, but then decreased by 27% from 2012 to 2017. Following this, the value surged by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 saw an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 26%.

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, positioning Y Block 1 St Street above this median.

• Y- Block, 2nd Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 3rd Street: Rs 12,600 per sq.ft (2024)
• Y- Block, 10th Street: Rs 11,500 per sq.ft (2024)
• Y Block 4609 to 4623 Second Avenue: Rs 15,900 per sq.ft (2024)
• Y- Block, 4th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 5th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Y Block 1 St Street

For a 1,000 sq.ft plot at the current rate of Rs 12,600 per sq.ft, the 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, totaling Rs 11,34,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Y Block 1 St Street?

The Y Block 1 St Street falls under the jurisdiction of 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 is a crucial factor in the registration process when buying or selling property in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Y Block 1 St Street?

The current guideline value of Y Block 1 St Street 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 10,000 per sq.ft in 2007 to Rs 12,600 per sq.ft in 2024, with several fluctuations in between, including a drop in 2017 and a significant increase in 2023.

What is the land classification for Y Block 1 St Street?

Y Block 1 St Street is classified as Residential Special Type - I under the land classification system.

What are the stamp duty and registration fees for property in Y Block 1 St Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 11,34,000, based on the current guideline value of Rs 12,600 per sq.ft.

Which Sub Registrar Office covers Y Block 1 St Street?

The AnnaNagar Sub Registrar Office covers Y Block 1 St Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.