Guideline Value for ASIRVADHAM NAGAR

Asirvadham Nagar guideline value

The current guideline value of Asirvadham Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This locality is situated in Vellivoyal village under the Thiruvottiyur SRO, classified as Residential Class I Type - III.

How the guideline value of Asirvadham Nagar has changed

The guideline value for Asirvadham Nagar has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, an increase of 10% from the 2023 revision of Rs 400 per sq.ft. Prior to that, the 2017 revision recorded a guideline value of Rs 268 per sq.ft, reflecting a significant increase of 49% to the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise illustrates the changes in property valuation over the years, culminating in the current figure of Rs 440 per sq.ft.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 715 per sq.ft. The median value is Rs 440 per sq.ft, placing Asirvadham Nagar's 2024 figure at this median level.

• Ambal Nagar/Ext: Rs 715 per sq.ft (2024)
• Al Mass Nagar: Rs 550 per sq.ft (2024)
• Charles Nagar: Rs 440 per sq.ft (2024)
• Devi Karumari Nagar/ Ext: Rs 495 per sq.ft (2024)
• Durugan Colony: Rs 550 per sq.ft (2024)
• Ekkal Colony: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Asirvadham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, bringing the total cost for these fees to Rs 39,600. It is important to note that the 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 Asirvadham Nagar?

The Sub Registrar Office that covers Asirvadham Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Vellivoyal, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is the minimum value set by the government for property transactions in the area, ensuring that the transaction is recorded at a fair price.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Asirvadham Nagar?

The current guideline value of Asirvadham Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in Asirvadham Nagar?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations in Asirvadham Nagar?

The Thiruvottiyur Sub Registrar Office is responsible for property registrations in Asirvadham Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value as determined by the government.