Guideline Value for Z- Block, 7th Street

Z- Block, 7th Street guideline value

The current guideline value for Z- Block, 7th Street in Mullam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the AnnaNagar SRO and is classified as Residential Special Type - II.

How the guideline value of Z- Block, 7th Street has changed

The guideline value for Z- Block, 7th Street has undergone several revisions over the years. Starting with the 2007 revision, the value was Rs 10,000 per sq.ft. This increased to Rs 10,500 per sq.ft in 2012, but then decreased to Rs 7,035 per sq.ft in 2017. Following this, the value saw a significant rise to Rs 10,500 per sq.ft in 2023, and finally reached Rs 11,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. 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 that carry a 2024 guideline value 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 for Z- Block, 7th Street.

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

Stamp duty and registration fee for property in Z- Block, 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value amounts to Rs 1,15,00,000. The stamp duty is calculated at 7%, which totals Rs 8,05,000, while the registration fee at 2% is Rs 2,30,000. Together, the total cost for these fees is Rs 10,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Z- Block, 7th Street?

The Z- Block, 7th Street is covered by 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 plays a crucial role in property transactions in Mullam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. Understanding the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Z- Block, 7th Street?

The current guideline value for Z- Block, 7th 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% over the years.

What is the land classification for Z- Block, 7th Street?

Z- Block, 7th Street is classified as Residential Special Type - II under the AnnaNagar SRO.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 10,35,000.

Which office handles registrations for Z- Block, 7th Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Z- Block, 7th Street.