Guideline Value for Aasallathamman Koil Street

Aasallathamman Koil Street guideline value

The current guideline value of Aasallathamman Koil Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Aasallathamman Koil Street has changed

The guideline value for Aasallathamman Koil Street has undergone several revisions over the years. In 2002, the value was Rs 368 per sq.ft, which increased to Rs 601 per sq.ft in 2003, marking a change of +63%. The value continued to rise, reaching Rs 1,200 per sq.ft in 2007, an increase of +100%. By 2012, the value was Rs 5,000 per sq.ft, reflecting a significant jump of +317% from the previous revision. However, it then decreased to Rs 3,350 per sq.ft in 2017, a decline of -33%.

From 2017 to 2023, the guideline value saw a notable increase to Rs 5,000 per sq.ft, which is a rise of +49%. The most recent revision in 2024 has set the value at Rs 5,500 per sq.ft, representing a +10% increase from the previous year. There are no revisions for this street in any other years.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, indicating that Aasallathamman Koil Street's current guideline value is below that median.

• Aasaithambi Street (Madhiazhagan Nagar): Rs 3,800 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 Aasallathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Therefore, the total cost for these fees would be Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Aasallathamman Koil Street?

The Sub Registrar Office that covers Aasallathamman Koil Street 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 of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a property is registered, the guideline value is considered to ensure that the correct fees are applied. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Aasallathamman Koil Street?

The current guideline value of Aasallathamman Koil 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 368 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +1395% over the years.

What is the land classification for Aasallathamman Koil Street?

Aasallathamman Koil Street is classified as Residential Class I Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Aasallathamman Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at 7%.