Guideline Value for Ashok Nagar 2nd Street

Ashok Nagar 2nd Street guideline value

The current guideline value of Ashok Nagar 2nd 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 2nd Street has changed

Over the years, the guideline value for Ashok Nagar 2nd Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. However, the value dropped to Rs 804 per sq.ft in the 2017 revision. In the 2023 revision, it rose to Rs 1,200 per sq.ft, and the latest revision in 2024 has set it at Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The increase from 2007 to 2012 was substantial at 100%. Overall, from 2007 to 2024, the guideline value has increased by 117%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ashok Nagar 2nd Street is below this median.

• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that the 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 Nagar 2nd Street?

The Sub Registrar Office that covers Ashok Nagar 2nd 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

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

The current guideline value of Ashok Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the land classification for Ashok Nagar 2nd Street?

Ashok Nagar 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Ashok Nagar 2nd Street?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Which office handles the registration for Ashok Nagar 2nd Street?

The Royapuram Sub Registrar Office handles the registration for Ashok Nagar 2nd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.