Guideline Value for Y- Block, 3rd Street

Y- Block, 3rd Street guideline value

The current guideline value for Y- Block, 3rd Street is Rs 12,600 per sq.ft, effective from 1 July 2024. This street is located in Mullam village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Y- Block, 3rd Street has changed

The guideline value for Y- Block, 3rd Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 10,000 per sq.ft. This figure increased to Rs 10,500 per sq.ft in 2012, but then saw a significant decrease to Rs 7,705 per sq.ft in 2017. Following this, the value rose sharply to Rs 11,500 per sq.ft in 2023, and most recently, it increased by 10% to Rs 12,600 per sq.ft in 2024.

In summary, the changes between revisions show a rise of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 26%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Mullam

In Mullam village, 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, with a median value of Rs 11,500 per sq.ft. The guideline value for Y- Block, 3rd Street is above this median.

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

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 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Y- Block, 3rd Street?

The Y- Block, 3rd Street 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 details.

How the guideline value is used when you buy or sell in Mullam

The guideline value is a crucial factor 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. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial implications of the transaction. It is essential to refer to the latest guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Y- Block, 3rd Street?

The current guideline value for Y- Block, 3rd 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 several times, starting from Rs 10,000 per sq.ft in 2007, increasing to Rs 10,500 in 2012, dropping to Rs 7,705 in 2017, then rising to Rs 11,500 in 2023, and finally reaching Rs 12,600 in 2024.

What is the land classification for Y- Block, 3rd Street?

The land classification for Y- Block, 3rd Street is Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,26,00,000, the stamp duty would be Rs 8,82,000 and the registration fee would be Rs 2,52,000, totaling Rs 11,34,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles registrations for this street?

The AnnaNagar Sub Registrar Office handles registrations for Y- Block, 3rd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.