Guideline Value for AS.P.I Colony 2nd street

AS.P.I Colony 2nd street guideline value

The current guideline value of AS.P.I Colony 2nd street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of AS.P.I Colony 2nd street has changed

The guideline value for AS.P.I Colony 2nd street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for AS.P.I Colony 2nd street.

• AS.P.I Colony 1st 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 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to 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 also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers AS.P.I Colony 2nd street?

The Sub Registrar Office that covers AS.P.I Colony 2nd 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 critical factor in property transactions in Chitlapakkam, 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 that are payable at the time of registration.

Frequently asked questions

What is the current guideline value for AS.P.I Colony 2nd street?

The current guideline value for AS.P.I Colony 2nd 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 increased 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 2nd street?

AS.P.I Colony 2nd street is classified as Residential Class I Type - III.

What is the stamp duty for property transactions in AS.P.I Colony 2nd street?

The stamp duty for property transactions in AS.P.I Colony 2nd street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for AS.P.I Colony 2nd street located?

The Sub Registrar Office for AS.P.I Colony 2nd street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.