Guideline Value for Ashok Street

Ashok Street guideline value

The current guideline value of Ashok Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, which falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ashok Street has changed

The guideline value for Ashok Street has undergone several revisions over the years. In 2002, the value was Rs 272 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007, marking a rise of 157%. The value then saw a substantial jump to Rs 2,500 per sq.ft in 2012, reflecting a 257% increase. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The next revision in 2023 set the value at Rs 2,500 per sq.ft, followed by the current rate of Rs 2,700 per sq.ft in 2024, which is an 8% increase from the previous year. Notably, the register has no figure for Ashok Street in 2003.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 893%. The changes indicate a fluctuating trend in the value of this street over the years, reflecting various market conditions and regulatory updates.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for Ashok Street.

• Ayyavu Grammi Street: Rs 2,700 per sq.ft (2024)
• Azath Street: Rs 2,700 per sq.ft (2024)
• Appulinga Vathiyar Street: Rs 1,700 per sq.ft (2024)
• Appavu Gramani Street: Rs 2,700 per sq.ft (2024)
• Appavoo Garden 1st Street: Rs 2,700 per sq.ft (2024)
• Apparao Thottam: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Street?

The Sub Registrar Office that covers Ashok Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Sembiam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

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

Frequently asked questions

What is the current guideline value of Ashok Street?

The current guideline value of Ashok Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 272 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 893% over the years.

What is the land classification for Ashok Street?

Ashok Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ashok Street?

The Sub Registrar Office for Ashok Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property transactions in Sembiam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.