Guideline Value for Ashok Nagar Main Street

Ashok Nagar Main Street guideline value

The current guideline value of Ashok Nagar Main Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the jurisdiction of the Royapuram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Ashok Nagar Main Street has changed

The guideline value for Ashok Nagar Main Street has undergone several revisions over the years. The earliest available figure is from 2007, which was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a significant rise of 100%. However, the value then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The guideline value saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by a further increase to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise.

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 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 of Ashok Nagar Main Street is below this median.

• Ashok Nagar Cross 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 Main 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 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 duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar Main Street?

The Sub Registrar Office that covers Ashok Nagar Main Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for additional assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar Main Street?

The current guideline value of Ashok Nagar Main 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 are the stamp duty rates applicable in Ashok Nagar Main Street?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

Where is the Sub Registrar Office for Ashok Nagar Main Street located?

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

What is the land classification for Ashok Nagar Main Street?

The land classification for Ashok Nagar Main Street is Residential Class II Type - I, indicating its suitability for residential development.