Guideline Value for ASHTABUJAM 2ND LANE

Ashtabujam 2nd Lane guideline value

The current guideline value for Ashtabujam 2nd Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ashtabujam 2nd Lane has changed

The guideline value for Ashtabujam 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 178%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, followed by a further increase to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The register has no figure for Ashtabujam 2nd Lane for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value for Ashtabujam 2nd Lane.

• Ashtabujam 1st 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 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashtabujam 2nd Lane?

The Sub Registrar Office that covers Ashtabujam 2nd 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 plays a crucial role in the registration process when buying or selling property in Purasaivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is taken into account to ensure that the correct fees are calculated based on the higher of the guideline value or the sale price. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ashtabujam 2nd Lane?

The current guideline value of Ashtabujam 2nd 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, which is an overall increase of 206% over the years.

What is the land classification for Ashtabujam 2nd Lane?

Ashtabujam 2nd Lane is classified as Residential Class III Type - I.

Where is the Sub Registrar Office located?

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

How is stamp duty calculated for properties in Ashtabujam 2nd Lane?

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