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 Pakkam 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, where it was also Rs 300 per sq.ft. However, the 2017 revision marked a significant increase from the previous 2012 figure of Rs 300 per sq.ft, resulting in an overall change of -33%. The 2023 revision maintained the value at Rs 300 per sq.ft, and the 2024 revision also set it at Rs 300 per sq.ft, indicating no change from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 300 per sq.ft, reflecting stability in this period.

Guideline values in Pakkam

In Pakkam village, there are 13 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 350 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which is equal to the guideline value of Aasai Nagar Phase-III.

• Aasai Nagar Phase - II: Rs 300 per sq.ft (2024)
• Akshaya Nagar: Rs 300 per sq.ft (2024)
• Asai Nagar: Rs 300 per sq.ft (2024)
• Assai Nagar Phase-6a: Rs 300 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 per sq.ft (2024)
• J J 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 rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and 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. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Pakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value is the minimum value at which properties are registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property being transferred.

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 from 2012 to 2024, with a significant increase of 49% from 2017 to 2023.

What are the other streets in Pakkam with their guideline values?

Other streets in Pakkam include Aasai Nagar Phase - II, Akshaya Nagar, Asai Nagar, Assai Nagar Phase-6a, Esic Employes Union Golden Juble Nagar, and J J Nagar, with values ranging from Rs 200 to Rs 300 per sq.ft.

What fees are associated with property registration in Aasai Nagar Phase-III?

The fees associated with property registration in Aasai Nagar Phase-III include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Aasai Nagar Phase-III located?

The Sub Registrar Office for Aasai Nagar Phase-III is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.