Guideline Value for Ashokan Street

Ashokan Street guideline value

The current guideline value of Ashokan Street in Parangimalai village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Ashokan Street has changed

The guideline value of Ashokan Street has seen several revisions over the years. In 2002, the value was Rs 236 per sq.ft, which increased to Rs 296 per sq.ft in 2003, marking a 25% rise. The value continued to rise significantly, reaching Rs 750 per sq.ft in 2007, representing a 153% increase from the previous revision. By 2012, the value had increased to Rs 2,500 per sq.ft, which was a substantial 233% increase from 2007. However, it dropped to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,750 per sq.ft, indicating a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,065%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Ashokan Street's 2024 figure below this median.

• Asarkana Lane: Rs 3,300 per sq.ft (2024)
• Appavu Mudali Street: Rs 3,300 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• Azarkahana 1st Lane: Rs 3,300 per sq.ft (2024)
• Azarkahana Cross Street: Rs 3,300 per sq.ft (2024)
• Azarkahana Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashokan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also 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 Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Parangimalai, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

When a buyer decides to purchase property, the guideline value helps in assessing the appropriate fees that need to be paid during registration. It ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ashokan Street?

The current guideline value of Ashokan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 236 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,065% over this period.

What is the classification of land on Ashokan Street?

Ashokan Street is classified as Residential Class III Type - I, according to the local land classification guidelines.

What are the stamp duty and registration fees for property on Ashokan Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office handles registrations for Ashokan Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Ashokan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.