Guideline Value for Z- Block, 6th Street

Z- Block, 6th Street guideline value

The current guideline value for Z- Block, 6th Street in Mullam village under the AnnaNagar SRO is Rs 11,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Z- Block, 6th Street has changed

The guideline value for Z- Block, 6th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 10,000 per sq.ft, which increased to Rs 10,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 7,035 per sq.ft, marking a significant decrease of 33%. The subsequent 2023 revision increased the value to Rs 10,500 per sq.ft, and the most recent 2024 revision brought it up to Rs 11,500 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 15%. It is important to note that there are no figures available for this street in the register for the years 2002 and 2003.

Guideline values in Mullam

Mullam village has a range of guideline values across its 119 streets under the AnnaNagar SRO, with the 2024 figures ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, which matches the guideline value of Z- Block, 6th Street.

• Z Block 6th Avenue: Rs 14,800 per sq.ft (2024)
• Z- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 5th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 8th 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, 9th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Z- Block, 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 11,500 per sq.ft, the guideline value amounts to Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, totaling Rs 10,35,000. It is important to note that 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 Z- Block, 6th Street?

The Z- Block, 6th Street is covered by 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 critical factor in the registration process for property transactions in Mullam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When you register a property, 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 registration fees reflect the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Z- Block, 6th Street?

The current guideline value for Z- Block, 6th 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 seen several revisions, increasing from Rs 10,000 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, with fluctuations in between.

What is the land classification for Z- Block, 6th Street?

Z- Block, 6th Street is classified as Residential Special Type - II, indicating its intended use for residential purposes.

Which office handles the registration for Z- Block, 6th Street?

The AnnaNagar Sub Registrar Office is responsible for handling registrations for properties in Z- Block, 6th Street.

How is the stamp duty calculated for properties in Mullam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the registration fees are reflective of the property's value.