Guideline Value for Y- Block, 5th Street

Y- Block, 5th Street guideline value

The current guideline value of Y- Block, 5th Street is Rs 11,500 per sq.ft. This street is located in Mullam village, under the AnnaNagar SRO, and is classified as Residential Special Type - II.

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

Over the years, the guideline value for Y- Block, 5th Street has seen several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 10,000 per sq.ft. In 2012, this value changed to Rs 10,500 per sq.ft, reflecting a 5% increase. However, in 2017, the value dropped to Rs 7,035 per sq.ft, marking a significant decrease of 33%. The guideline value then increased to Rs 10,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the value at Rs 11,500 per sq.ft, which is a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

Mullam village has a total of 119 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median guideline value for these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value of Y- Block, 5th Street.

• Y- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 4th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 8th Street: Rs 11,500 per sq.ft (2024)
• Y Block 4609 to 4623 Second Avenue: Rs 15,900 per sq.ft (2024)
• Y- Block, 9th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Y- 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 would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total cost for these fees 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.

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

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

The Y- Block, 5th Street is covered by 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 details.

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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during registration.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Y- Block, 5th Street is Rs 11,500 per sq.ft, as per the 2024 revision 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, reflecting a total increase of 15% over the years.

What are the stamp duty and registration fees for a property in Y- Block, 5th Street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000, and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which office handles the registration for Y- Block, 5th Street?

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

What is the land classification of Y- Block, 5th Street?

Y- Block, 5th Street is classified as Residential Special Type - II, which is important for determining the guidelines and regulations for property transactions in the area.