Guideline Value for Ashok Nagar Cross street

Ashok Nagar Cross street guideline value

The current guideline value for Ashok Nagar Cross 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 falls under Residential Class II Type - I land classification.

How the guideline value of Ashok Nagar Cross street has changed

The guideline value for Ashok Nagar Cross street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% increase. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 1,200 per sq.ft in the 2023 revision, and the latest revision in 2024 set it at Rs 1,300 per sq.ft, an increase of 8% from the previous year.

The overall change from the 2007 revision to the 2024 revision shows an increase of 117%. Notably, the guideline register has no figures for Ashok Nagar Cross street for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet village, 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 Cross street is below this median.

• Ashok Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Ashok Nagar 1st 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 Cross 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 amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost for these 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar Cross street?

The Sub Registrar Office that covers Ashok Nagar Cross 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 a crucial factor in the registration process of property transactions in Tondaiarpet. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

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

Frequently asked questions

What is the current guideline value for Ashok Nagar Cross street?

The current guideline value for Ashok Nagar Cross 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, showing an overall increase of 117% over the years.

What is the land classification for Ashok Nagar Cross street?

Ashok Nagar Cross street falls under Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for Ashok Nagar Cross street?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How do stamp duty and registration fees work for property transactions?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. Buyers must pay these fees during the registration process of the property transaction.