Guideline Value for Ashok Avenue 6th Street

Ashok Avenue 6th Street guideline value

The current guideline value of Ashok Avenue 6th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ashok Avenue 6th Street has changed

The guideline value for Ashok Avenue 6th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is an increase of 64% from the 2017 figure.

It is important to note that the register has no figures for Ashok Avenue 6th Street for the years 2002, 2003, and 2023. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

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

• Ashok Avenue 5th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 7th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 4th Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 3rd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Ashok Avenue 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Avenue 6th 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 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Avenue 6th Street?

The Sub Registrar Office that covers Ashok Avenue 6th 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 when buying or selling property in Kolathur. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to calculate the associated costs accurately.

When a property is registered, the guideline value is used to assess the stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value, reflecting the property's worth as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Ashok Avenue 6th Street?

The current guideline value of Ashok Avenue 6th 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, which is an overall increase of 371% over the years.

What is the land classification of Ashok Avenue 6th Street?

Ashok Avenue 6th Street is classified as 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 the stamp duty calculated for property in Ashok Avenue 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 33,00,000, resulting in a stamp duty of Rs 2,31,000.