Guideline Value for Ashok Avenue 1st Street

Ashok Avenue 1st Street guideline value

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

How the guideline value of Ashok Avenue 1st Street has changed

The guideline value for Ashok Avenue 1st Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during this period. However, from 2023 to 2024, the guideline value increased by 10% to reach Rs 3,300 per sq.ft.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 371%. The register does not have figures for the years 2002, 2003, and 2017 for this street, indicating no recorded changes during those years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a guideline value for 2024 ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Ashok Avenue 1st Street.

• Ashok Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 5th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 6th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Avenue 1st 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 amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total charges would be Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Avenue 1st Street?

The Sub Registrar Office that covers Ashok Avenue 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers often refer to the guideline value to negotiate and finalize the sale price, as it reflects the official valuation of the property in that area.

Frequently asked questions

What is the current guideline value of Ashok Avenue 1st Street?

The current guideline value of Ashok Avenue 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 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 371% over this period.

What are the stamp duty and registration fees for property in Ashok Avenue 1st Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ashok Avenue 1st Street?

The Sembiam Sub Registrar Office covers Ashok Avenue 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Ashok Avenue 1st Street?

Ashok Avenue 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.