Guideline Value for Ashirvathapuram 1st street

Ashirvathapuram 1st street guideline value

The current guideline value of Ashirvathapuram 1st street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class III Type - III.

How the guideline value of Ashirvathapuram 1st street has changed

Over the years, the guideline value for Ashirvathapuram 1st street has seen several revisions. The earliest recorded value in 2007 was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 3,300 per sq.ft in 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 is an increase of 450%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. The guideline value of Ashirvathapuram 1st street is below this median.

• Ashirvathapuram 2nd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 3rd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 4nd strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 5th strret: Rs 3,300 per sq.ft (2024)
• Ashirvathapuram 6thstrret: Rs 3,300 per sq.ft (2024)
• Arunchala Pillai Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashirvathapuram 1st street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashirvathapuram 1st street?

The Sub Registrar Office that covers Ashirvathapuram 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vepery. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When registering a property, buyers and sellers must consider the guideline value for calculating applicable stamp duty and registration fees. This ensures that the transaction complies with legal requirements and reflects the value of the property accurately.

Frequently asked questions

What is the current guideline value of Ashirvathapuram 1st street?

The current guideline value of Ashirvathapuram 1st 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 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450%.

What are the other streets in Vepery with similar guideline values?

Other streets in Vepery with a guideline value of Rs 3,300 per sq.ft in 2024 include Ashirvathapuram 2nd strret, Ashirvathapuram 3rd strret, Ashirvathapuram 4nd strret, Ashirvathapuram 5th strret, and Ashirvathapuram 6thstrret.

What is the stamp duty for property in Ashirvathapuram 1st street?

The stamp duty for property in Ashirvathapuram 1st street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Ashirvathapuram 1st street?

The Periamet Sub Registrar Office handles property registrations for Ashirvathapuram 1st street, located at 1103, Poonamallee High Road, Chennai-600 003.