Guideline Value for Asarkana Street*

Asarkana Street* guideline value

The current guideline value of Asarkana Street* in Alandur village, under the Alandur SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Asarkana Street* has changed

The guideline value for Asarkana Street* has seen several revisions over the years. Starting from Rs 353 per sq.ft in 2002, it increased to Rs 384 per sq.ft in 2003, marking a 9% rise. The value then surged significantly to Rs 700 per sq.ft in 2007, reflecting an increase of 471%. Following this, the value decreased to Rs 4,000 per sq.ft in 2012, which was a drop of 33%. In 2017, it rose again to Rs 2,680 per sq.ft, and from there, it increased to Rs 4,000 per sq.ft in 2023, a 49% rise. The most recent revision in 2024 brought the value to Rs 4,400 per sq.ft, a 10% increase from the previous year.

There are no figures available for the revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 1146%.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 3,900 to Rs 11,000 per sq.ft, with a median of Rs 5,000 per sq.ft. Asarkana Street*'s 2024 figure is below this median.

• Appavu Street: Rs 4,400 per sq.ft (2024)
• Alikan Street: Rs 4,400 per sq.ft (2024)
• Bramin Street: Rs 5,000 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 5,000 per sq.ft (2024)
• Eashwaran Koil Street: Rs 5,000 per sq.ft (2024)
• Gandhi Market commer: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Asarkana Street*

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Asarkana Street*?

The Sub Registrar Office that covers Asarkana Street* is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Alandur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately with the appropriate authorities.

When buying or selling property, the guideline value helps determine the legal value of the property for registration purposes. This ensures that all transactions reflect a fair representation of the property's worth as per the government’s valuation.

Frequently asked questions

What is the current guideline value of Asarkana Street*?

The current guideline value of Asarkana Street* is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 353 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting various increases and a decrease in between these years.

What is the land classification for Asarkana Street*?

Asarkana Street* falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property in Asarkana Street*?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles registrations for properties in Alandur?

The Alandur Sub Registrar Office handles property registrations for Alandur, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.