Guideline Value for AS.P.I Colony 1st street

AS.P.I Colony 1st street guideline value

The current guideline value of AS.P.I Colony 1st street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of AS.P.I Colony 1st street has changed

The guideline value for AS.P.I Colony 1st street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a 10% increase.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of AS.P.I Colony 1st street.

• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 3rd street: Rs 1,650 per sq.ft (2024)
• Ashtalakshmi Street: Rs 1,650 per sq.ft (2024)
• Ashokan Street: Rs 3,300 per sq.ft (2024)
• Ayyappa Nagar: Rs 3,300 per sq.ft (2024)
• Babu Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in AS.P.I Colony 1st street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers AS.P.I Colony 1st street?

The Sub Registrar Office that covers AS.P.I Colony 1st street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of AS.P.I Colony 1st street?

The current guideline value of AS.P.I Colony 1st street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for AS.P.I Colony 1st street?

The land classification for AS.P.I Colony 1st street is Residential Class I Type - III.

What are the stamp duty and registration fees for property in AS.P.I Colony 1st street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers AS.P.I Colony 1st street?

The Tambaram Joint 1 Sub Registrar Office covers AS.P.I Colony 1st street, located at No.26, Mes Road, East Tambaram, Chennai-600059.