Guideline Value for ASHOKA ROAD

Ashoka Road guideline value

The current guideline value of Ashoka Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village and falls under the Mylapore Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - III.

How the guideline value of Ashoka Road has changed

The guideline value for Ashoka Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, which is an increase of 9% from the 2023 revision of Rs 6,500 per sq.ft. Prior to that, the 2012 revision also recorded a value of Rs 6,500 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. This consistent increase reflects the adjustments made in the guideline values over the years, specifically between the 2023 and 2024 revisions.

Guideline values in Mylapore

Mylapore village features a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Ashoka Road's 2024 figure below the median.

• Arunthathi Colony: Rs 3,300 per sq.ft (2024)
• Arundale Street: Rs 8,800 per sq.ft (2024)
• Arunagiri Street: Rs 7,100 per sq.ft (2024)
• Arunachalam Street: Rs 3,300 per sq.ft (2024)
• Arumugam Street: Rs 3,300 per sq.ft (2024)
• Arulappan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashoka Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashoka Road?

The Sub Registrar Office that covers Ashoka Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Mylapore, as it determines the minimum value at which property transactions are registered. Buyers must pay stamp duty and registration fees based on this guideline value, ensuring that the transaction is officially recorded in the government registry.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ashoka Road?

The current guideline value of Ashoka Road is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024, marking a 9% increase. There has been no change from the 2012 revision to the 2023 revision, which also recorded Rs 6,500 per sq.ft.

What is the land classification for Ashoka Road?

Ashoka Road is classified as Residential Class IV Type - III, which indicates its use for residential purposes within the Mylapore area.

What are the stamp duty and registration fees for properties on Ashoka Road?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 6,39,000.

Which office handles property registrations for Ashoka Road?

The Mylapore Sub Registrar Office handles property registrations for Ashoka Road, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.