Guideline Value for Aasaithambi Street (Madhiazhagan Nagar)

Aasaithambi Street (Madhiazhagan Nagar) guideline value

The current guideline value of Aasaithambi Street (Madhiazhagan Nagar) is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Aasaithambi Street (Madhiazhagan Nagar) has changed

The guideline value for Aasaithambi Street has seen several revisions over the years. In 2002, the guideline value was Rs 322 per sq.ft. This increased to Rs 354 per sq.ft in 2003, marking a 10% rise. The value continued to grow, reaching Rs 800 per sq.ft in 2007, which was a significant increase of 126%. However, from 2007 to 2012, the value decreased to Rs 3,500 per sq.ft, reflecting a decline of 33%. The value remained the same in 2012 until it rose to Rs 2,345 per sq.ft in 2017, a 49% increase. The guideline value then increased to Rs 3,500 per sq.ft in 2023, followed by the latest revision to Rs 3,800 per sq.ft in 2024, which is a 9% increase. The register has no figure for this street for the years not mentioned.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median guideline value in this village is Rs 7,100 per sq.ft, indicating that Aasaithambi Street's current value is below that median.

• Aasallathamman Koil Street: Rs 5,500 per sq.ft (2024)
• Aathimulam Avenue: Rs 5,500 per sq.ft (2024)
• Aagasthiar Street: Rs 3,800 per sq.ft (2024)
• AIBEOA Nagar: Rs 7,100 per sq.ft (2024)
• A.K.R. New Nagar: Rs 3,800 per sq.ft (2024)
• Akshya Colony: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Aasaithambi Street (Madhiazhagan Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aasaithambi Street (Madhiazhagan Nagar)?

The Sub Registrar Office that covers Aasaithambi Street (Madhiazhagan Nagar) is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher figure is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Aasaithambi Street (Madhiazhagan Nagar)?

The current guideline value of Aasaithambi Street (Madhiazhagan Nagar) is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 322 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1080% over the years.

What is the median guideline value in Mugappair?

The median guideline value in Mugappair is Rs 7,100 per sq.ft, with Aasaithambi Street's current value being below this median.

What are the stamp duty and registration fees for properties in Aasaithambi Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,42,000, based on the guideline value of Rs 38,00,000.

Which office handles registrations for Aasaithambi Street (Madhiazhagan Nagar)?

The Konnur Sub Registrar Office handles registrations for Aasaithambi Street (Madhiazhagan Nagar), located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.