Guideline Value for Z BLOCK 6TH AVENUE

Z Block 6th Avenue guideline value

The current guideline value of Z Block 6th Avenue in Mullam village, under the AnnaNagar SRO, is Rs 14,800 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - I.

How the guideline value of Z Block 6th Avenue has changed

The guideline value for Z Block 6th Avenue has seen significant changes over the years. The 2017 revision recorded a value of Rs 9,045 per sq.ft, which increased to Rs 13,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 14,800 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mullam

Mullam village has a total of 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 guideline value for these streets is Rs 11,500 per sq.ft, which means that Z Block 6th Avenue's 2024 figure is above this median.

• Z- Block, 5th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02: Rs 14,800 per sq.ft (2024)
• Z- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 4th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 8th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Z Block 6th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value would be Rs 1,48,00,000. The stamp duty at 7% would amount to Rs 10,36,000, and the registration fee at 2% would be Rs 2,96,000, making the total cost for these fees Rs 13,32,000. It is important to note that the 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 Z Block 6th Avenue?

The Z Block 6th Avenue 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 during the registration of property transactions in Mullam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Z Block 6th Avenue?

The current guideline value of Z Block 6th Avenue is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 9,045 per sq.ft to Rs 14,800 per sq.ft in 2024, marking a total increase of 64% over the years.

What is the land classification for Z Block 6th Avenue?

Z Block 6th Avenue is classified as Mixed Type - I, which indicates a blend of residential and commercial usage in the area.

Where can I find the registration office for Z Block 6th Avenue?

The registration office for Z Block 6th Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Z Block 6th Avenue?

Stamp duty is calculated as a percentage of the higher value between the guideline value and the sale price. For example, a property valued at Rs 14,800 per sq.ft incurs a stamp duty of 7% on the guideline value.