Guideline Value for ASHTABUJAM 1ST LANE

Ashtabujam 1st Lane guideline value

The current guideline value of Ashtabujam 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Ashtabujam 1st Lane has changed

The guideline value for Ashtabujam 1st Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking an increase of 178%. However, in 2017, the value dropped to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The revisions for the years 2002 and 2003 do not have figures available for this street, indicating a gap in the recorded values during those years.

Guideline values in Purasaivakkam

Ashtabujam 1st Lane's 2024 guideline value of Rs 5,500 per sq.ft is equal to the median value for the 519 streets in Purasaivakkam, which range from Rs 2,200 to Rs 18,100 per sq.ft. Below are other streets in Purasaivakkam with their respective 2024 guideline values:

• Ashtabujam 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ashtabujam Lane: Rs 5,500 per sq.ft (2024)
• Ashtabujam Street: Rs 5,500 per sq.ft (2024)
• Avadhanam Pappaiyar 1st Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar 2nd Lane: Rs 6,500 per sq.ft (2024)
• Avadhanam Pappaiyar Street & Road: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtabujam 1st Lane

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashtabujam 1st Lane?

The Sub Registrar Office that covers Ashtabujam 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to accurately assess the costs associated with property transactions.

Frequently asked questions

What is the current guideline value of Ashtabujam 1st Lane?

The current guideline value of Ashtabujam 1st Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification of Ashtabujam 1st Lane?

Ashtabujam 1st Lane is classified as Residential Class III Type - I according to the guideline value register.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Ashtabujam 1st Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.