Guideline Value for Y- Block, 8th Street

Y- Block, 8th Street guideline value

The current guideline value for Y- Block, 8th 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, 8th Street has changed

The guideline value for Y- Block, 8th Street has seen several revisions over the years. In 2007, the guideline value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it decreased to Rs 7,035 per sq.ft in 2017. The value then rose significantly to Rs 10,500 per sq.ft in 2023 and has now reached Rs 11,500 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes are as follows: from 2007 to 2012, there was a 5% increase; from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, the value increased by 49%; and from 2023 to 2024, there was a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Mullam

In Mullam, there are 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 is Rs 11,500 per sq.ft, which is equal to the 2024 figure for Y- Block, 8th Street.

• Y- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, Main Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 5th Street: Rs 11,500 per sq.ft (2024)
• Y- Block, 4th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Y- Block, 8th 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, totaling Rs 10,35,000. 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, 8th Street?

The Y- Block, 8th 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 further assistance.

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, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

When a property is registered, the guideline value is considered to ensure compliance with legal requirements. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Y- Block, 8th Street?

The current guideline value for Y- Block, 8th 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 several revisions in between, including a decrease in 2017.

What are the other streets in Mullam with the same guideline value?

Several other streets in Mullam have the same guideline value of Rs 11,500 per sq.ft for 2024, including Y- Block, 7th Street, Y- Block, 9th Street, and others.

What are the stamp duty and registration fees for a property in Y- Block, 8th 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, 8th Street?

The AnnaNagar Sub Registrar Office handles the registration for Y- Block, 8th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.