Guideline Value for Ashok Nagar 2nd Main Road

Ashok Nagar 2nd Main Road guideline value

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

How the guideline value of Ashok Nagar 2nd Main Road has changed

Over the years, the guideline value of Ashok Nagar 2nd Main Road has seen significant revisions. The 2007 revision recorded a guideline value of Rs 600 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a substantial rise of 233%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 267%. It is important to note that there are no figures available for the years 2002 and 2003 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 guideline value for these streets is Rs 2,200 per sq.ft, which matches the current value for Ashok Nagar 2nd Main Road.

• Ashok Nagar 1st 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 2nd 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 to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 2nd Main Road?

The Sub Registrar Office that covers Ashok Nagar 2nd 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 is a crucial factor during property transactions in Irumpuliyur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers need to pay when purchasing property. This ensures that the government receives appropriate revenue from property transactions.

When selling property, the guideline value can impact the sale price, as it is often used to determine the minimum value at which a property can be registered. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 2nd Main Road?

The current guideline value of Ashok Nagar 2nd 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 increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

What is the land classification of Ashok Nagar 2nd Main Road?

Ashok Nagar 2nd Main Road is classified as Residential Special Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft property, the total costs would be Rs 1,98,000.

Which office handles registrations for Ashok Nagar 2nd Main Road?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Ashok Nagar 2nd Main Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.