Guideline Value for Ashoka Nagar

Ashoka Nagar guideline value

The current guideline value of Ashoka Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Ashoka Nagar has changed

The guideline value for Ashoka Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the upcoming 2024 revision, the value has increased significantly by 62%, bringing it back up to Rs 1,300 per sq.ft.

Overall, comparing the 2012 revision to the 2024 revision shows a slight increase of 8%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for Ashoka Nagar.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ashoka Nagar is below this median.

• Ashoka Street, Lakshmipuarm (Ward-27): Rs 1,300 per sq.ft (2024)
• Ashoka Street (Ward No.30): Rs 1,300 per sq.ft (2024)
• Arul Nagar (Ward-03): Rs 2,200 per sq.ft (2024)
• Arul Nagar Road (Ward-3): Rs 2,200 per sq.ft (2024)
• Arul Nagar Milk Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Arul Nagar Milk Colony 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ashoka Nagar

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, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashoka Nagar?

The Sub Registrar Office that covers Ashoka Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees that are required to be paid during the registration of the property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring compliance with regulatory requirements. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ashoka Nagar?

The current guideline value of Ashoka Nagar 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 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

What is the land classification of Ashoka Nagar?

Ashoka Nagar falls under the Residential Class III Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Ashoka Nagar?

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