Guideline Value for ASHOK METROVARAM PHASE-II

Ashok Metrovaram Phase-II guideline value

The current guideline value of Ashok Metrovaram Phase-II is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village under the Redhills SRO, with a land classification of Mixed Type - II.

How the guideline value of Ashok Metrovaram Phase-II has changed

In the 2017 revision, the guideline value for Ashok Metrovaram Phase-II was Rs 700 per sq.ft. This figure remained unchanged in the 2023 revision, which also listed the value at Rs 700 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 770 per sq.ft, marking a change of +10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +10%. There are no figures available in the register for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perungavur

Perungavur village has a total of 79 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 220 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 275 per sq.ft, placing Ashok Metrovaram Phase-II's 2024 figure above this median.

• Bala Murugan Nagar Annex: Rs 220 per sq.ft (2024)
• Bethel: Rs 900 per sq.ft (2024)
• Brindavan Garden Annex: Rs 275 per sq.ft (2024)
• Brindavan Gardens: Rs 385 per sq.ft (2024)
• Golden Garden: Rs 385 per sq.ft (2024)
• Golden Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Metrovaram Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashok Metrovaram Phase-II?

The Sub Registrar Office covering Ashok Metrovaram Phase-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO online.

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

The guideline value is a crucial factor during the registration of property transactions in Perungavur. It serves as the basis for calculating the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard rate, which helps maintain transparency and fairness in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ashok Metrovaram Phase-II?

The current guideline value of Ashok Metrovaram Phase-II is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2017 to 2023 and then increased to Rs 770 per sq.ft in 2024, resulting in a 10% increase from the previous year.

What is the registration office for Ashok Metrovaram Phase-II?

The registration office for Ashok Metrovaram Phase-II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Ashok Metrovaram Phase-II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 770 per sq.ft, the stamp duty would be Rs 53,900.

What is the land classification for Ashok Metrovaram Phase-II?

The land classification for Ashok Metrovaram Phase-II is Mixed Type - II, which is relevant for determining the guideline value and other regulations.