Guideline Value for Aasiriyar nagar

Aasiriyar nagar guideline value

The current guideline value of Aasiriyar nagar, located in Melamaiyur village under the Chengleput Joint I SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Aasiriyar nagar has changed

The guideline value for Aasiriyar nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 340 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a rise of 194%. However, in 2017, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. The value then saw a substantial increase to Rs 1,000 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 224%.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,212 per sq.ft, which means Aasiriyar nagar's 2024 figure is below that median.

• Akshaya Nagar: Rs 1,322 per sq.ft (2024)
• Ammaiyappar Nagar: Rs 1,322 per sq.ft (2024)
• Andal Nagar: Rs 1,212 per sq.ft (2024)
• ANNAI PADMAVATHY NAGAR Phase -I,II,III,IV&Extension: Rs 1,212 per sq.ft (2024)
• Arutperum Jyothi Nagar: Rs 825 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Aasiriyar nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aasiriyar nagar?

Aasiriyar nagar falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Melamaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Aasiriyar nagar?

The current guideline value of Aasiriyar nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 showing an increase of 10% from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 224%.

What are the guideline values of other streets in Melamaiyur?

Other streets in Melamaiyur have varying guideline values, with rates ranging from Rs 440 to Rs 3,000 per sq.ft. For example, Akshaya Nagar and Ammaiyappar Nagar both have a guideline value of Rs 1,322 per sq.ft in 2024.

What fees are associated with buying property in Aasiriyar nagar?

When buying property in Aasiriyar nagar, buyers should consider the stamp duty at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 99,000.

Which office handles property registration for Aasiriyar nagar?

The Chengleput Joint I Sub Registrar Office handles property registration for Aasiriyar nagar. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.