Guideline Value for Ashok Nagar 1st Main Road

Ashok Nagar 1st Main Road guideline value

The current guideline value of Ashok Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Ashok Nagar 1st Main Road has changed

Over the years, the guideline value of Ashok Nagar 1st Main Road has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which then increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 233%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value up to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value for Ashok Nagar 1st Main Road is 267%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

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 for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Ashok Nagar 1st Main Road.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 1st Main Road?

The Sub Registrar Office that covers Ashok Nagar 1st Main Road 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 during the registration of property transactions in Irumpuliyur. It serves as the baseline for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties and fees. This ensures transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar 1st Main Road?

The current guideline value of Ashok Nagar 1st Main Road 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 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 1st Main Road?

Ashok Nagar 1st Main Road is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

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 in fees.

Which office handles registrations for Ashok Nagar 1st Main Road?

The Tambaram Joint 1 Sub Registrar Office is responsible for handling registrations for Ashok Nagar 1st Main Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.