Guideline Value for Z- Block, 5th Avenue 54 To 60,61,63,64 To 77, Mig Flats, 1010a, Bains School, 5072a, 5072b, 02)

Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02) guideline value

The current guideline value for Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02) is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Mullam village under the AnnaNagar SRO, classified as Mixed Type - I land.

How the guideline value of Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02) has changed

The guideline value for this property has seen several revisions over the years. In 2007, the value was set at Rs 13,500 per sq.ft. This remained unchanged until 2012, when it was again Rs 13,500 per sq.ft. However, in 2017, the value dropped significantly to Rs 9,045 per sq.ft, marking a decrease of 33%. The value then increased to Rs 13,500 per sq.ft in 2023, and further rose to Rs 14,800 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mullam

Mullam village has a range of guideline values for its streets, with 119 streets under the AnnaNagar SRO carrying 2024 figures ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, placing the 2024 figure for Z- Block, 5th Avenue above this median.

• Z- Block, 4th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 5th Street: Rs 11,500 per sq.ft (2024)
• Z Block 6th Avenue: Rs 14,800 per sq.ft (2024)
• Z- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Z Block 2nd Avenue 1652 A, B. C,D,E,F,G,H & Church: Rs 15,900 per sq.ft (2024)
• Z- Block, 7th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02)

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

Which Sub Registrar Office covers Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02)?

The Sub Registrar Office that covers this area is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 critical factor when registering property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is assessed to ensure that the transaction is recorded accurately, which helps in maintaining transparency and accountability in real estate dealings.

Frequently asked questions

What is the current guideline value for Z- Block, 5th Avenue?

The current guideline value for Z- Block, 5th Avenue 54 to 60,61,63,64 to 77, MIG Flats, 1010A, Bains School, 5072A, 5072B, 02) 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 from Rs 13,500 per sq.ft in 2007 to Rs 9,045 per sq.ft in 2017, then increased to Rs 13,500 per sq.ft in 2023, and finally to Rs 14,800 per sq.ft in 2024.

What is the range of guideline values in Mullam?

In Mullam, the guideline values range 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 Z- Block, 5th Avenue is above this median.

What are the stamp duty rates applicable?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.