Guideline Value for Ashoka Street

Ashoka Street guideline value

The current guideline value of Ashoka Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Ashoka Street has changed

Over the years, the guideline value of Ashoka Street has seen several revisions. The 2003 revision set the value at Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007. The 2012 revision noted a rise to Rs 700 per sq.ft, but this was followed by a decrease to Rs 469 per sq.ft in 2017. The value then increased significantly to Rs 700 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 770 per sq.ft. Notably, there is no figure available for this street in the 2002 revision.

In terms of percentage changes, the guideline value increased by 134% from 2003 to 2007, followed by a 75% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value saw a substantial increase of 49% from 2017 to 2023, and the most recent change from 2023 to 2024 was an increase of 10%. Overall, from 2003 to 2024, the guideline value has risen by 350%.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is equal to the current guideline value of Ashoka Street.

• Ashokar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Ashokar Cross Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Arignar Anna Street: Rs 660 per sq.ft (2024)
• Athithanar Street: Rs 770 per sq.ft (2024)
• Avvaiyar Street: Rs 770 per sq.ft (2024)
• Anna Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ashoka Street

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashoka Street?

The Sub Registrar Office that covers Ashoka Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Padiyanallur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Ensuring that the guideline value is accurately reflected in the registration documents is vital for compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ashoka Street?

The current guideline value of Ashoka Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 171 per sq.ft in 2003 and reaching Rs 770 per sq.ft in 2024, marking an overall increase of 350%.

What is the registration office for Ashoka Street?

The registration office for Ashoka Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Ashoka Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.

What other streets have the same guideline value as Ashoka Street?

Other streets in Padiyanallur that share the same guideline value of Rs 770 per sq.ft include Ashokar Street, Ashokar Cross Street, Athithanar Street, Avvaiyar Street, and Anna Street.