Guideline Value for Ashok Avenue 2nd Street

Ashok Avenue 2nd Street guideline value

The current guideline value of Ashok Avenue 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Ashok Avenue 2nd Street has changed

The guideline value for Ashok Avenue 2nd Street has seen several revisions over the years. In 2007, the value was set at Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a remarkable increase of 329%. This value remained unchanged until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, the most recent revision in 2024 saw a rise to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures recorded for Ashok Avenue 2nd Street in the 2017, 2003, and 2002 revisions. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO, with the 2024 guideline values 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 matches the current value for Ashok Avenue 2nd Street.

• Ashok Avenue 1st 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 2nd 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ashok Avenue 2nd Street?

The Sub Registrar Office that covers Ashok Avenue 2nd 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 plays a crucial role during property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Avenue 2nd Street?

The current guideline value of Ashok Avenue 2nd 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 is the land classification for Ashok Avenue 2nd Street?

Ashok Avenue 2nd Street is classified under Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.