Guideline Value for ASHTABUJAM STREET

Ashtabujam Street guideline value

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

How the guideline value of Ashtabujam Street has changed

The guideline value for Ashtabujam Street has seen several revisions over the years. Starting from Rs 1,800 per sq.ft in 2007, it increased significantly to Rs 5,000 per sq.ft in 2012, then decreased to Rs 3,350 per sq.ft in 2017. Following this, the value rose to Rs 5,000 per sq.ft in 2023, and now stands at Rs 5,500 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

In terms of percentage changes, the value increased by 178% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase, leading to an overall increase of 206% from 2007 to 2024.

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 the same as the guideline value for Ashtabujam Street.

• Ashtabujam Lane: Rs 5,500 per sq.ft (2024)
• Ashtabujam 2nd Lane: Rs 5,500 per sq.ft (2024)
• Ashtabujam 1st Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total 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, bringing the total charges to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashtabujam Street?

The Sub Registrar Office that covers Ashtabujam Street 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 property transactions in Purasaivakkam. It is used to determine the stamp duty and registration fees when a property is sold or purchased, ensuring that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process remains transparent and fair.

Frequently asked questions

What is the current guideline value of Ashtabujam Street?

The current guideline value of Ashtabujam Street 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, with various increases and decreases in between.

What are the other streets with the same guideline value?

Other streets in Purasaivakkam with the same guideline value of Rs 5,500 per sq.ft include Ashtabujam Lane, Ashtabujam 2nd Lane, and Ashtabujam 1st Lane.

What is the stamp duty rate for properties in Ashtabujam Street?

The stamp duty rate for properties in Ashtabujam Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ashtabujam Street?

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