Guideline Value for Asari Street

Asari Street guideline value

The current guideline value of Asari Street in Mevaloorkuppam B village is Rs 400 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Asari Street has changed

The guideline value for Asari Street has seen notable changes over the years. The register does not provide figures for the revisions in 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 200 per sq.ft. This was a significant increase from the previous figure, which was not available for the earlier years.

With the 2024 revision, the guideline value increased to Rs 400 per sq.ft, marking a 100% rise from the 2023 figure. This increase reflects the current valuation and aligns with the median guideline value for the 84 streets in Mevaloorkuppam B, which is also Rs 400 per sq.ft.

Guideline values in Mevaloorkuppam B

Mevaloorkuppam B has a range of guideline values for its streets, with the 2024 figures varying from Rs 100 to Rs 6,200 per sq.ft. Asari Street's 2024 guideline value of Rs 400 per sq.ft is equal to the median for the area.

• Arul Avenue: Rs 300 per sq.ft (2024)
• Arlington county Ph.II: Rs 1,320 per sq.ft (2024)
• Arlington county Ph.I Extension: Rs 1,320 per sq.ft (2024)
• Arlington County Ph.I: Rs 1,320 per sq.ft (2024)
• Arlington County Phase - IV: Rs 1,344 per sq.ft (2024)
• Arakkonam Salai: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Asari Street

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Asari Street?

The Sub Registrar Office that covers Asari Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mevaloorkuppam B. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price.

When registering a property transaction, the higher value between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Asari Street?

The current guideline value of Asari Street is Rs 400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 200 per sq.ft in 2023 to Rs 400 per sq.ft in 2024, representing a 100% increase.

What is the land classification for Asari Street?

Asari Street is classified as Residential Class II Type - I according to the current guidelines.

Where can I find the Sub Registrar Office for Asari Street?

The Sub Registrar Office for Asari Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Asari Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000 at 7%.