Guideline Value for Ashok Nagar North Street

Ashok Nagar North Street guideline value

The current guideline value of Ashok Nagar North Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Special Type - II.

How the guideline value of Ashok Nagar North Street has changed

The guideline value for Ashok Nagar North Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, the value dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 2,200 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Ashok Nagar North Street in the revisions from 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Ashok Nagar North Street's current value at the median.

• Ashok Nagar East Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar South Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Ashok Nagar West Street: Rs 2,200 per sq.ft (2024)
• Ashok Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)
• Arul Nagar Ext: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost would be Rs 1,98,000. 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 Nagar North Street?

The Sub Registrar Office that covers Ashok Nagar North Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Irumpuliyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. Buyers and sellers should be aware that the guideline value is a reference point for the government to assess the value of the property for taxation purposes.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar North Street?

The current guideline value of Ashok Nagar North Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification for Ashok Nagar North Street?

Ashok Nagar North Street is classified as Residential Special Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Ashok Nagar North Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ashok Nagar North Street, located at No.26, mes Road, East Tambaram, Chennai-600059.