Guideline Value for Z- Block, 8th Street

Z- Block, 8th Street guideline value

The current guideline value for Z- Block, 8th Street is Rs 11,500 per sq.ft, effective from 1 July 2024. This street is located in Mullam village and falls under the AnnaNagar SRO, classified as Residential Special Type - II.

How the guideline value of Z- Block, 8th Street has changed

Over the years, the guideline value for Z- Block, 8th Street has seen several revisions. 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, it then decreased to Rs 7,035 per sq.ft in 2017. The 2023 revision raised the value to Rs 10,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 11,500 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision reflects a 10% increase. The overall change from 2007 to 2024 is a 15% increase, indicating a gradual rise in the guideline value over the years.

Guideline values in Mullam

Mullam village has a total of 119 streets under the AnnaNagar SRO, with guideline values ranging from Rs 4,400 to Rs 15,900 per sq.ft. The median value among these streets is Rs 11,500 per sq.ft, which is equal to the current guideline value for Z- Block, 8th Street.

• Z- Block, 7th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 9th Street: Rs 11,500 per sq.ft (2024)
• Z- Block, 6th Street: Rs 11,500 per sq.ft (2024)
• Z Block 6th Avenue: Rs 14,800 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, 8th 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 be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. 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, 8th Street?

The Sub Registrar Office that covers Z- Block, 8th Street is 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 further assistance.

How the guideline value is used when you buy or sell in Mullam

The guideline value is a crucial factor 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 helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it reflects the official valuation set by the Registration Department. This value is used to ensure that all transactions are conducted fairly and transparently, adhering to the legal requirements in Tamil Nadu.

Frequently asked questions

What is the current guideline value for Z- Block, 8th Street?

The current guideline value for Z- Block, 8th 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, 8th Street?

Z- Block, 8th Street is classified as Residential Special Type - II, which indicates its purpose for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Z- Block, 8th Street?

The Sub Registrar Office for Z- Block, 8th Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.