Guideline Value for AASAI NAGAR PHASE- III

Aasai Nagar Phase- Iii guideline value

The current guideline value of Aasai Nagar Phase- Iii is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Vilvarayanalloor village and falls under the Madurandakam SRO. The land classification for this street is Mixed Type - I.

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

The guideline value for Aasai Nagar Phase- Iii has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the guideline value was reduced to Rs 201 per sq.ft, marking a decrease of 33%. From 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The 2023 revision maintained this value, and as of the 2024 revision, the guideline value remains at Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2007, 2003, and 2002 for this street. Therefore, the changes in guideline value are only documented from 2012 onwards.

Guideline values in Vilvarayanalloor

In Vilvarayanalloor, there are 23 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 101 to Rs 300 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, indicating that Aasai Nagar Phase- Iii's 2024 figure is above this median.

• Aasai Nagar Phase-Iv: Rs 300 per sq.ft (2024)
• Annai Nagar: Rs 200 per sq.ft (2024)
• Annai Nagar II: Rs 200 per sq.ft (2024)
• Annai Nagar III: Rs 200 per sq.ft (2024)
• B.S.Nagar: Rs 101 per sq.ft (2024)
• Dr.Chandrasekar Nagar: Rs 200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aasai Nagar Phase- Iii?

The Sub Registrar Office that covers Aasai Nagar Phase- Iii is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To locate your specific SRO, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Vilvarayanalloor, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must consider this value to comply with legal requirements and ensure accurate documentation.

Frequently asked questions

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

The current guideline value of Aasai Nagar Phase- Iii is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in 2012, 2023, and 2024. However, it decreased to Rs 201 per sq.ft in 2017, before increasing by 49% to return to Rs 300 per sq.ft by 2023.

What is the land classification for Aasai Nagar Phase- Iii?

The land classification for Aasai Nagar Phase- Iii is Mixed Type - I, which indicates the type of development permissible in the area.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Aasai Nagar Phase- Iii?

Stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.