Guideline Value for Asha Nagar

Asha Nagar guideline value

The current guideline value of Asha Nagar, located in Padappai village under the Padappai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Asha Nagar has changed

The guideline value for Asha Nagar has seen significant changes over the years. In 2003, the value was Rs 50 per sq.ft, which increased to Rs 85 per sq.ft in 2007. This marked a substantial rise of 70%. The value then surged dramatically to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 3429%. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current guideline value of Rs 3,300 per sq.ft in 2024, a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 6500%. It is important to note that there is no figure available for Asha Nagar in the 2002 revision.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, making Asha Nagar's 2024 value above this median.

• Arumugam Nagar: Rs 830 per sq.ft (2024)
• Auric Homes: Rs 990 per sq.ft (2024)
• Anna Nagar: Rs 660 per sq.ft (2024)
• Bajanai Koil Street: Rs 440 per sq.ft (2024)
• Annai Arul Nagar: Rs 660 per sq.ft (2024)
• Balaji Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Asha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Asha Nagar?

The Asha Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official value assigned to the property.

When a property is bought or sold, the transaction must be registered at the relevant Sub Registrar Office, where the guideline value will be used to determine the applicable fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Asha Nagar?

The current guideline value of Asha Nagar 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 increased from Rs 50 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking a significant overall increase of 6500%.

What is the land classification of Asha Nagar?

Asha Nagar is classified as Commercial Class I Type - I, indicating its designation for commercial use.

What are the stamp duty and registration fees for property in Asha Nagar?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Asha Nagar located?

The Padappai Sub Registrar Office, which covers Asha Nagar, is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.