Guideline Value for Asai Nagar

Asai Nagar guideline value

The current guideline value of Asai Nagar, located in Pakkam village under the Madurandakam SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Mixed Type - I land classification.

How the guideline value of Asai Nagar has changed

The guideline value for Asai Nagar has seen several revisions over the years. The earliest recorded value is Rs 40 per sq.ft from the 2007 revision. This figure increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 650% rise. However, the value then decreased to Rs 201 per sq.ft in the 2017 revision, a drop of 33% from the previous revision. The 2023 revision maintained the value at Rs 300 per sq.ft, and the current 2024 revision also retains this figure, resulting in no change from 2023 to 2024.

In summary, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has risen by 650%.

Guideline values in Pakkam

In Pakkam village, there are 13 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 350 per sq.ft. The median value for these streets is Rs 300 per sq.ft, which is equal to the guideline value for Asai Nagar.

• Assai Nagar Phase-6a: Rs 300 per sq.ft (2024)
• Akshaya Nagar: Rs 300 per sq.ft (2024)
• Aasai Nagar Phase-III: Rs 300 per sq.ft (2024)
• Aasai Nagar Phase - II: Rs 300 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 per sq.ft (2024)
• J J Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Asai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, calculated at 7%, would be Rs 21,000, while the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Asai Nagar?

The Sub Registrar Office that covers Asai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Pakkam. It is the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value is also important as it helps establish a minimum price for the transaction. Sellers and buyers typically use this value to negotiate the sale price, ensuring that it meets or exceeds the guideline value set by the registration department.

Frequently asked questions

What is the current guideline value of Asai Nagar?

The current guideline value of Asai Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and returned to Rs 300 per sq.ft in both 2023 and 2024.

What is the land classification of Asai Nagar?

Asai Nagar falls under the Mixed Type - I land classification as per the registration records.

Where can I find the Sub Registrar Office for Asai Nagar?

The Sub Registrar Office for Asai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for property in Asai Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 3,00,000, the stamp duty would be Rs 21,000.