Guideline Value for Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower)

Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower) guideline value

The current guideline value for Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower) is Rs 14,800 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 Mixed Type - I.

How the guideline value of Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower) has changed

Over the years, the guideline value for Y- Block, 5th Avenue has seen several revisions. The 2017 revision set the guideline value at Rs 9,045 per sq.ft, which increased to Rs 13,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current 2024 revision reflects a further increase of 10%, bringing the value to Rs 14,800 per sq.ft.

Prior to the 2017 revision, the 2012 and 2007 revisions both recorded a guideline value of Rs 13,500 per sq.ft. Notably, there were no figures available for the years 2002 and 2003 in the register for this street. The overall change from the 2007 revision to the current 2024 revision is an increase of 10%.

Guideline values in Mullam

Mullam village has a range of guideline values across its 119 streets under the AnnaNagar SRO, with figures varying from Rs 4,400 to Rs 15,900 per sq.ft. The median guideline value in this area is Rs 11,500 per sq.ft, and Y- Block, 5th Avenue's 2024 figure is above this median.

• Y- Block, 5th Main Road 4331 to 4344, 4505, 4506: Rs 12,600 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)
• Y Block 4609 to 4623 Second Avenue: Rs 15,900 per sq.ft (2024)
• Y- Block, 6th Main Road 4331, 4359, 4415 to 4424, 4545, 4546, 4574, 4575: Rs 12,600 per sq.ft (2024)
• Y- Block, 6th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower)

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty at 7% would be Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, resulting in a total of Rs 13,32,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower)?

The Y- Block, 5th Avenue 4506 to 4523 4608 (Near Visweshwaraya Tower) 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 of property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

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

Frequently asked questions

What is the current guideline value for Y- Block, 5th Avenue 4506 to 4523 4608?

The current guideline value for Y- Block, 5th Avenue 4506 to 4523 4608 is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 9,045 per sq.ft in 2017 to Rs 14,800 per sq.ft in 2024, reflecting an increase of 10% from 2023 to 2024 and a 49% increase from 2017 to 2023.

What is the registration fee for property in this area?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,48,00,000, the registration fee at 2% would be Rs 2,96,000.

Which Sub Registrar Office should I visit for registration?

The AnnaNagar Sub Registrar Office covers Y- Block, 5th Avenue 4506 to 4523 4608, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What other streets have guideline values in Mullam?

Other streets in Mullam have varying guideline values, with rates ranging from Rs 4,400 to Rs 15,900 per sq.ft. Notably, Y- Block, 5th Avenue's guideline value is higher than the median value of Rs 11,500 per sq.ft in the area.