Guideline Value for Ashok Nagar 1st street

Ashok Nagar 1st street guideline value

The current guideline value of Ashok Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class II Type - I.

How the guideline value of Ashok Nagar 1st street has changed

The guideline value for Ashok Nagar 1st street has seen several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, in 2017, the value dropped to Rs 804 per sq.ft before rising again to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a significant increase of 100%. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing Ashok Nagar 1st street's 2024 figure below that median.

• Ashok Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Cross street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Arunachala Eswarar Koil Street (West Mada Veethy): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 1st street?

The Sub Registrar Office covering Ashok Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is used as a basis for calculating the stamp duty and registration fees when buying or selling property in Tondaiarpet. It serves as a reference point to determine the minimum value at which the property can be registered.

When a property transaction occurs, the guideline value helps ensure that the government receives the appropriate revenue from the transaction. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

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

The current guideline value of Ashok Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions, with the most recent increase of 8% from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024.

What is the land classification for Ashok Nagar 1st street?

Ashok Nagar 1st street is classified as Residential Class II Type - I.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles registrations for Ashok Nagar 1st street?

The Royapuram Sub Registrar Office handles registrations for Ashok Nagar 1st street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.