Guideline Value for ASIAD RESIDENCY

Asiad Residency guideline value

The current guideline value of Asiad Residency is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Special Type - I.

How the guideline value of Asiad Residency has changed

In the 2012 revision, the guideline value was Rs 600 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 600 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,000 per sq.ft, marking a significant change of +67% from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +67%. This indicates a notable adjustment in the value of properties in this area over the years.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 750 per sq.ft, placing Asiad Residency's 2024 figure above this median.

• Asiriyar Nagar: Rs 1,500 per sq.ft (2024)
• Arunthathiyar St: Rs 750 per sq.ft (2024)
• Arunthathiar Palayam Street: Rs 750 per sq.ft (2024)
• Arumugapettai Elumalainaickerstreet: Rs 750 per sq.ft (2024)
• Arumuga Patti W.K Davarasnar Street: Rs 750 per sq.ft (2024)
• Arumuga Patti Thenadai Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Asiad Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Asiad Residency?

The Sub Registrar Office that covers Asiad Residency is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor when buying or selling property in Walajabad. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the transaction is aligned with the official property valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Asiad Residency?

The current guideline value of Asiad Residency is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 600 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2024, marking a total increase of +67% over this period.

What is the land classification of Asiad Residency?

Asiad Residency is classified as Residential Special Type - I under the Walajabad SRO.

What are the stamp duty rates for property transactions in Asiad Residency?

The stamp duty for property transactions in Asiad Residency is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.