Guideline Value for AASAI NAGAR PHASE - V

Aasai Nagar Phase - V guideline value

The current guideline value of Aasai Nagar Phase - V is Rs 302 per sq.ft, effective from 1 July 2024. This property is located in Silavattam village, under the Madurandakam Sub Registrar Office (SRO), and is classified as Mixed Type - I.

How the guideline value of Aasai Nagar Phase - V has changed

Over the years, the guideline value for Aasai Nagar Phase - V has seen several revisions. The earliest recorded figure is from 2012, which was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017. The 2023 revision increased the value to Rs 300 per sq.ft, and the most recent 2024 revision has set the value at Rs 302 per sq.ft. The revisions for the years 2007, 2003, and 2002 do not have any figures listed for this street.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. The value then rose by 1% from 2023 to 2024. In contrast, there was a decrease of 33% from 2012 to 2017, reflecting the fluctuations in property valuation over the years.

Guideline values in Silavattam

In Silavattam, there are six streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 302 per sq.ft, which is equal to the current guideline value of Aasai Nagar Phase - V. Below are the guideline values for other streets in Silavattam:

• J.J.Nagar: Rs 400 per sq.ft (2024)
• New Lakshmi Nagar: Rs 302 per sq.ft (2024)
• S.R.G.D Nagar Phase-Ii: Rs 200 per sq.ft (2024)
• Sri Veeraraghava Nagar Phase - I: Rs 200 per sq.ft (2024)
• "sri Veeraragava Nagar": Rs 301 per sq.ft (2024)

Stamp duty and registration fee for property in Aasai Nagar Phase - V

For a 1,000 sq.ft plot at the current guideline value of Rs 302 per sq.ft, the total guideline value amounts to Rs 3,02,000. The stamp duty, calculated at 7%, would be Rs 21,140, while the registration fee at 2% would be Rs 6,040. Therefore, the total cost for stamp duty and registration would be Rs 27,180. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Aasai Nagar Phase - V?

The Aasai Nagar Phase - V is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Silavattam. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a fair price as per the government regulations.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable fees, such as stamp duty and registration charges. This ensures transparency and compliance with local laws during property transactions.

Frequently asked questions

What is the current guideline value of Aasai Nagar Phase - V?

The current guideline value of Aasai Nagar Phase - V is Rs 302 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 302 per sq.ft in 2024.

What is the classification of land in Aasai Nagar Phase - V?

The land classification for Aasai Nagar Phase - V is Mixed Type - I, indicating a mix of residential and commercial use.

Where can I find the registration office for Aasai Nagar Phase - V?

The registration office covering Aasai Nagar Phase - V is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Aasai Nagar Phase - V, the stamp duty is 7% of the guideline value.