Guideline Value for ASAI THAMBI STREET

Asai Thambi Street guideline value

The current guideline value of Asai Thambi Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Asai Thambi Street has changed

The guideline value for Asai Thambi Street has seen several revisions over the years. In 2002, the guideline value was Rs 197 per sq.ft. This increased to Rs 220 per sq.ft in 2003, marking a 12% rise. The value then saw a significant jump to Rs 700 per sq.ft in 2007, which was a 218% increase. Following this, in 2012, the guideline value was Rs 1,500 per sq.ft, reflecting a 114% increase from the previous revision. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value increased to Rs 1,500 per sq.ft, which was a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, representing a 13% increase from the previous year. There are no figures available for Asai Thambi Street in the revisions prior to 2002 or for any years not mentioned.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Asai Thambi Street is below this median.

• A.V.Subbarao Street: Rs 2,200 per sq.ft (2024)
• Anna Salai (New Colony): Rs 6,100 per sq.ft (2024)
• Anna Salai 4th Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 3rd Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 2nd Main Road: Rs 6,100 per sq.ft (2024)
• Anna Salai 1st Main Road: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Asai Thambi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to 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 details.

Which Sub Registrar Office covers Asai Thambi Street?

The Sub Registrar Office that covers Asai Thambi Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable fees and duties, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Asai Thambi Street?

The current guideline value of Asai Thambi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 197 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 763% across the years.

What is the land classification for Asai Thambi Street?

Asai Thambi Street is classified as Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Asai Thambi Street?

The Neelankarai Sub Registrar Office covers Asai Thambi Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Asai Thambi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at a rate of 7%.