Guideline Value for ASHOK LEYLAND COLONY

Ashok Leyland Colony guideline value

The current guideline value of Ashok Leyland Colony is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ashok Leyland Colony has changed

The guideline value for Ashok Leyland Colony has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 179 per sq.ft. This increased to Rs 210 per sq.ft in 2003, followed by a significant rise to Rs 500 per sq.ft in 2007. The value then saw a notable increase to Rs 1,200 per sq.ft in 2012. However, it decreased to Rs 804 per sq.ft in 2017. The 2023 revision set the value at Rs 1,200 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,300 per sq.ft.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +17%; from 2003 to 2007, it rose by +138%; from 2007 to 2012, there was a +140% increase; however, from 2012 to 2017, it saw a decrease of -33%. The value then increased by +49% from 2017 to 2023, and finally, from 2023 to 2024, it rose by +8%. Overall, from 2002 to 2024, the guideline value has increased by +626%.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Ashok Leyland Colony is below this median.

• Ashok Avenue: Rs 2,400 per sq.ft (2024)
• A.Sathanthapuram (New Colony): Rs 2,800 per sq.ft (2024)
• Appar Samy Koil Street: Rs 3,300 per sq.ft (2024)
• Appar Nagar: Rs 2,150 per sq.ft (2024)
• Babu Jajeevan Nagar: Rs 3,300 per sq.ft (2024)
• Anna Nagar (Egavaliyamman Koil Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Leyland Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Ashok Leyland Colony?

The Sub Registrar Office that covers Ashok Leyland Colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable fees. Buyers should be aware that the stamp duty and registration fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ashok Leyland Colony?

The current guideline value of Ashok Leyland Colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 179 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of +626% over the years.

What is the land classification for Ashok Leyland Colony?

Ashok Leyland Colony is classified as Residential Class II Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for property in Ashok Leyland Colony?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Ashok Leyland Colony?

The Thiruvottiyur Sub Registrar Office handles property registrations in Ashok Leyland Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.