Guideline Value for Ashokan Street

Ashokan Street guideline value

The current guideline value of Ashokan Street in Nanganallur village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Ashokan Street has changed

The guideline value for Ashokan Street has undergone several revisions over the years. In 2002, the value was Rs 466 per sq.ft, which increased to Rs 529 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 700 per sq.ft in 2007, a change of +32%. Following this, the 2012 revision saw the value at Rs 2,500 per sq.ft, reflecting a substantial increase of +257% from the previous figure. However, in 2017, it dropped to Rs 1,675 per sq.ft, a decrease of -33%. The value then increased to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,800 per sq.ft in 2024, which is a change of +12%.

Overall, from 2002 to 2024, the guideline value has increased by +501%. The register has no figures for revisions in the years not listed above.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Ashokan Street is below this median.

• Avvaiyar Street: Rs 3,300 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Bala Vinayagar Murthy Colony: Rs 3,300 per sq.ft (2024)
• Balu Samy Naidu Street (Balu Samy Street): Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Church Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ashokan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashokan Street?

The Sub Registrar Office that covers Ashokan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO here.

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

The guideline value is a crucial factor in property transactions in Nanganallur. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction. This value is set by the Registration Department and reflects the minimum value at which properties are assessed for tax purposes.

When buying or selling a property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Ashokan Street?

The current guideline value of Ashokan Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, increasing from Rs 466 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, which is an overall increase of +501%.

What is the land classification of Ashokan Street?

Ashokan Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Ashokan Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties on Ashokan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,96,000.