Guideline Value for ASIAN GARDEN (Opp to Kumaraswamy Nagar)

ASIAN GARDEN (Opp to Kumaraswamy Nagar) guideline value

The current guideline value for ASIAN GARDEN (Opp to Kumaraswamy Nagar) is Rs 8,200 per sq.ft, effective from 1 July 2024. This property is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of ASIAN GARDEN (Opp to Kumaraswamy Nagar) has changed

The guideline value for ASIAN GARDEN has undergone several revisions over the years. Starting from Rs 592 per sq.ft in 2002, the value increased significantly to Rs 1,750 per sq.ft in 2007, marking a 196% rise. The value saw a remarkable increase to Rs 7,500 per sq.ft in 2012, a 329% jump from the previous revision. However, it then decreased to Rs 5,025 per sq.ft in 2017, reflecting a 33% decline. The value rose again to Rs 7,500 per sq.ft in 2023, and most recently, it has reached Rs 8,200 per sq.ft in 2024, which is a 9% increase from the previous year.

It is important to note that the register has no figure for this street for the year 2003. Overall, from 2002 to 2024, the guideline value has increased by a substantial 1285%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft as of 2024. The median guideline value in the area is Rs 4,900 per sq.ft, placing ASIAN GARDEN's 2024 figure above this median.

• Arkey Flats: Rs 8,200 per sq.ft (2024)
• Bakthavachalapuram: Rs 1,600 per sq.ft (2024)
• Anna Nagar Bus Terminus (West): Rs 13,200 per sq.ft (2024)
• Baliamman Koil Bus Stop Street: Rs 1,600 per sq.ft (2024)
• Baliamman Koil Street: Rs 1,600 per sq.ft (2024)
• ANBU COLONY (7th AVENUE): Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in ASIAN GARDEN (Opp to Kumaraswamy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total cost for these fees to Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers ASIAN GARDEN (Opp to Kumaraswamy Nagar)?

The Sub Registrar Office covering ASIAN GARDEN is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Villivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for ASIAN GARDEN?

The current guideline value for ASIAN GARDEN (Opp to Kumaraswamy Nagar) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 592 per sq.ft in 2002 to Rs 8,200 per sq.ft in 2024, reflecting a total increase of 1285% over this period.

What are the stamp duty and registration fees for a property in ASIAN GARDEN?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000.

Which Sub Registrar Office covers ASIAN GARDEN?

The Villivakkam Sub Registrar Office covers ASIAN GARDEN, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for ASIAN GARDEN?

ASIAN GARDEN is classified as Residential Class II Type - I, indicating its suitability for residential development.