Guideline Value for Asan Basha Street

Asan Basha Street guideline value

The current guideline value of Asan Basha Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Asan Basha Street has changed

The guideline value for Asan Basha Street has undergone several revisions over the years. In 2003, the guideline value was Rs 281 per sq.ft. It increased to Rs 300 per sq.ft in 2007, marking a significant rise of 7%. The value then saw a dramatic increase to Rs 3,500 per sq.ft in 2012, reflecting a change of 1,067%. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and most recently, it increased to Rs 3,850 per sq.ft in 2024, which is a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1,270%. The register has no figure for Asan Basha Street for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 3,300 per sq.ft. Asan Basha Street's 2024 figure of Rs 3,850 per sq.ft is above this median.

• Arunthathipuram 3rd St: Rs 4,400 per sq.ft (2024)
• Arundathipuram 2nd Street: Rs 4,400 per sq.ft (2024)
• Arundathipuram 1st Street: Rs 4,400 per sq.ft (2024)
• Arundathipuram: Rs 4,400 per sq.ft (2024)
• Arasamaram Street: Rs 3,850 per sq.ft (2024)
• Annaswamy Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Asan Basha Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Asan Basha Street?

The Sub Registrar Office that covers Asan Basha Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Issa Pallavaram

The guideline value is crucial when buying or selling property in Issa Pallavaram, as it determines the stamp duty and registration fees payable during the transaction. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Asan Basha Street?

The current guideline value of Asan Basha Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 281 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 1,270% over this period.

What is the land classification for Asan Basha Street?

Asan Basha Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Asan Basha Street?

The Sub Registrar Office for Asan Basha Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.