Guideline Value for AS.P.I Colony 3rd street

AS.P.I Colony 3rd street guideline value

The current guideline value of AS.P.I Colony 3rd 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, and is classified as Residential Class I Type - III.

How the guideline value of AS.P.I Colony 3rd street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figure for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 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 guideline value in this village is Rs 1,650 per sq.ft, which is the same as the current value for AS.P.I Colony 3rd street.

• AS.P.I Colony 2nd street: Rs 1,650 per sq.ft (2024)
• AS.P.I Colony 1st 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 3rd 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. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers AS.P.I Colony 3rd street?

The Sub Registrar Office that covers AS.P.I Colony 3rd 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 details.

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

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. This value is used as a benchmark for calculating these fees, ensuring that the transaction is recorded accurately in the official register.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. The guideline value is regularly revised, reflecting changes in the real estate landscape, and it is advisable to check for the latest figures before proceeding with any property transactions.

Frequently asked questions

What is the current guideline value of AS.P.I Colony 3rd street?

The current guideline value of AS.P.I Colony 3rd 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 seen various changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024. Notably, there was a decrease to Rs 1,005 per sq.ft in 2017, followed by an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for AS.P.I Colony 3rd street?

AS.P.I Colony 3rd street is classified as Residential Class I Type - III, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500.

Which Sub Registrar Office covers this area?

The Tambaram Joint 1 Sub Registrar Office covers AS.P.I Colony 3rd street, located at No.26, mes Road, East Tambaram, Chennai-600059.