Guideline Value for Asen Basha Street

Asen Basha Street guideline value

The current guideline value of Asen Basha Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Asen Basha Street has changed

The guideline value for Asen Basha Street has undergone several revisions over the years. Starting from Rs 658 per sq.ft in 2003, it increased to Rs 800 per sq.ft in 2007, marking a 22% rise. In 2012, the value was revised to Rs 3,000 per sq.ft, which was a significant increase of 275%. However, it then dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, indicating a 10% increase from the previous year.

It is important to note that there is no figure available for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 402%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Asen Basha Street's 2024 figure above this median.

• Arumugapillai Street: Rs 2,750 per sq.ft (2024)
• Arumalai Chavadi: Rs 3,300 per sq.ft (2024)
• Arian Street: Rs 2,200 per sq.ft (2024)
• Appavoo Naicken Street: Rs 2,700 per sq.ft (2024)
• Anthoniya Street: Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Asen Basha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the 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 Asen Basha Street?

The Sub Registrar Office that covers Asen 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 Cantonment Pallavaram

When buying or selling property in Cantonment Pallavaram, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for property transactions, ensuring that the appropriate taxes are collected.

Both buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property. The stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the total cost involved in the transaction.

Frequently asked questions

What is the current guideline value of Asen Basha Street?

The current guideline value of Asen Basha Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 658 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 402% over this period.

Where can I find the registration office for properties in Asen Basha Street?

The registration office for properties in Asen Basha Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Tamil Nadu is generally set at 7% of the guideline value or the sale price, whichever is higher.

What should I know about the guideline value when buying property?

When buying property, it is essential to be aware that the guideline value is used to calculate stamp duty and registration fees. This value may differ from the actual sale price, and the duty is charged on the higher of the two.