Guideline Value for Ashok City

Ashok City guideline value

The current guideline value of Ashok City, located in Pothur village under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Ashok City has changed

The guideline value for Ashok City has undergone several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 200% rise. However, the value then decreased to Rs 201 per sq.ft in 2017, representing a 33% decline. The 2023 revision saw an increase to Rs 300 per sq.ft, and the most recent 2024 revision has further raised it to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Pothur

In Pothur, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Ashok City is below this median.

• Aswini Nagar: Rs 440 per sq.ft (2024)
• Aswini Nagar Extension: Rs 440 per sq.ft (2024)
• Athithya Nagar: Rs 550 per sq.ft (2024)
• Anna Nagar South: Rs 550 per sq.ft (2024)
• Anna Nagar East: Rs 550 per sq.ft (2024)
• Anna Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok City

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, totaling Rs 29,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok City?

The Sub Registrar Office that covers Ashok City is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pothur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the official valuation of the property being transacted.

When a property is registered, the guideline value is used to determine the applicable charges, which are calculated based on the higher of the guideline value or the sale price. This ensures transparency and compliance with government regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ashok City?

The current guideline value of Ashok City is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, showing an overall increase of 230% over the years.

What is the median guideline value in Pothur?

The median guideline value in Pothur is Rs 550 per sq.ft, with Ashok City's value being below this median at Rs 330 per sq.ft.

What are the stamp duty and registration fees for Ashok City?

For a 1,000 sq.ft plot in Ashok City, the total stamp duty and registration fees would amount to Rs 29,700 based on the current guideline value of Rs 3,30,000.

Which office should I visit for property registration in Ashok City?

You should visit the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052 for property registration in Ashok City.