Guideline Value for ASHOK NAGAR

Ashok Nagar guideline value

The current guideline value of Ashok Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Ashok Nagar has changed

The guideline value for Ashok Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,500 per sq.ft. Prior to that, the 2017 revision listed the value at Rs 1,005 per sq.ft, marking a significant increase of 49% to the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a 64% increase in the guideline value. This steady rise reflects the changes in the valuation process over the years.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value for the village is Rs 1,102 per sq.ft, placing Ashok Nagar's 2024 figure above this median.

• Azhagiri Street: Rs 1,100 per sq.ft (2024)
• Anna Ninaivu Nagar 7th Street: Rs 1,650 per sq.ft (2024)
• Anna Ninaivu Nagar 6th Street: Rs 1,650 per sq.ft (2024)
• Anna Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Anna Nagar 5 th Street: Rs 1,650 per sq.ft (2024)
• Anna Nagar 4 th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar

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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar?

The Sub Registrar Office that covers Ashok Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Puzhal, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar?

The current guideline value of Ashok Nagar 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 increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 64% over the seven years.

What is the land classification for Ashok Nagar?

Ashok Nagar falls under the Residential Class I Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total cost for stamp duty and registration fees would be Rs 1,48,500.

Which office handles property registrations for Ashok Nagar?

The Redhills Sub Registrar Office handles property registrations for Ashok Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.