Guideline Value for ASAD NAGAR PHASE-II

Asad Nagar Phase-II guideline value

The current guideline value of Asad Nagar Phase-II is Rs 120 per sq.ft. This area is located in Aandarmadam village under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Asad Nagar Phase-II has changed

Asad Nagar Phase-II has seen several revisions in its guideline value over the years. The register shows no figures for the years 2002, 2003, 2007, and 2012. The guideline value was Rs 80 per sq.ft in 2017, which increased to Rs 120 per sq.ft in both 2023 and 2024, reflecting a 50% increase from 2017 to 2023, and no change from 2023 to 2024.

Overall, from 2017 to 2024, the guideline value has increased by 50%. The current value of Rs 120 per sq.ft matches the median value for the four streets in Aandarmadam that have a 2024 figure.

Guideline values in Aandarmadam

In Aandarmadam, there are four streets under the Ponneri SRO that carry a 2024 guideline value, all set at Rs 120 per sq.ft. Asad Nagar Phase-II's guideline value is equal to the median of these streets.

• Aasath Nagar Shoping Avenue: Rs 120 per sq.ft (2024)
• Aasath Nagar Phase-II: Rs 120 per sq.ft (2024)
• Minjur New Town: Rs 120 per sq.ft (2024)

Stamp duty and registration fee for property in Asad Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value would be Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, bringing the total fees to Rs 10,800. It is important to note that 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 Asad Nagar Phase-II?

The Sub Registrar Office covering Asad Nagar Phase-II is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Aandarmadam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When buying or selling property, the guideline value helps determine the minimum value on which stamp duty is calculated. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Asad Nagar Phase-II?

The current guideline value of Asad Nagar Phase-II is Rs 120 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 80 per sq.ft in 2017 to Rs 120 per sq.ft in both 2023 and 2024, reflecting a 50% increase from 2017 to 2024, with no change from 2023 to 2024.

What are the other streets in Aandarmadam with the same guideline value?

Other streets in Aandarmadam with a guideline value of Rs 120 per sq.ft include Aasath Nagar Shoping Avenue, Aasath Nagar Phase-II, and Minjur New Town.

What fees are associated with buying property in Asad Nagar Phase-II?

When purchasing property in Asad Nagar Phase-II, buyers need to consider stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 10,800.

Where can I find the Sub Registrar Office for Asad Nagar Phase-II?

The Sub Registrar Office for Asad Nagar Phase-II is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles all registration activities for properties in the area.