Guideline Value for Z- Block, 5th Street

Z- Block, 5th Street guideline value

The current guideline value for Z- Block, 5th Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the AnnaNagar SRO and is classified as Residential Special Type - II.

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

The guideline value for Z- Block, 5th Street has seen several revisions over the years. In 2007, the value was Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, it then decreased to Rs 7,035 per sq.ft in 2017. The value saw a significant rise to Rs 10,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 11,500 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 reflects a 15% increase. The register has no figures for this street for the years 2002 and 2003.

Guideline values in Mullam

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

• Z- Block, 5th Avenue: Rs 14,800 per sq.ft (2024)
• Z Block 6th Avenue: Rs 14,800 per sq.ft (2024)
• Z- Block, 4th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 7th 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, 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, making the total charges 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Z- Block, 5th Street 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 stamp duty and registration fees applicable to the property being bought or sold.

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.

Frequently asked questions

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

The current guideline value for Z- Block, 5th 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, reflecting an overall increase of 15%. The most significant increase occurred between 2017 and 2023, with a rise of 49%.

Where can I find the registration office for Z- Block, 5th Street?

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

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 10,35,000 in fees based on the current guideline value.

What is the median guideline value for streets in Mullam?

The median guideline value for streets in Mullam is Rs 11,500 per sq.ft, which is the same as the current value for Z- Block, 5th Street.