Guideline Value for Y- Block, 10th Street

Y- Block, 10th Street guideline value

The current guideline value for Y- Block, 10th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village and falls under the AnnaNagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Y- Block, 10th Street has changed

The guideline value for Y- Block, 10th Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 10,000 per sq.ft. This was followed by a slight increase to Rs 10,500 per sq.ft in 2012. However, in 2017, the value dropped significantly to Rs 7,035 per sq.ft. From 2017 to 2023, the value increased sharply to Rs 10,500 per sq.ft, and in the latest revision for 2024, it further increased to Rs 11,500 per sq.ft.

In terms of percentage changes, the value increased by 5% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then saw a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 15%. The register has no figures for the years 2002 and 2003 for this street.

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, which is equal to the current guideline value for Y- Block, 10th Street.

• Y Block 1 St Street: Rs 12,600 per sq.ft (2024)
• Y- Block, 2nd Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 3rd Street: Rs 12,600 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, 10th Street

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the 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, totaling Rs 10,35,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Y- Block, 10th Street?

The Sub Registrar Office that covers Y- Block, 10th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 when buying or selling property in Mullam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are prepared for the associated costs.

When a property is sold, the guideline value is considered to be the minimum value for registration purposes. This means that if the sale price is lower than the guideline value, the stamp duty and registration fees will still be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Y- Block, 10th Street?

The current guideline value for Y- Block, 10th 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 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with varying increases and decreases in between.

What is the land classification for Y- Block, 10th Street?

The land classification for Y- Block, 10th Street is Residential Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Y- Block, 10th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property in Y- Block, 10th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 8,05,000.