Guideline Value for Asiad Colony (Near J.N.Road)

Asiad Colony (Near J.N.Road) guideline value

The current guideline value for Asiad Colony (Near J.N.Road) is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village and falls under the AnnaNagar SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Asiad Colony (Near J.N.Road) has changed

The guideline value for Asiad Colony (Near J.N.Road) has undergone several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which was followed by a decrease to Rs 8,040 per sq.ft in the 2017 revision. However, the value saw a significant increase to Rs 12,000 per sq.ft in 2023, and further rose to Rs 13,200 per sq.ft in the 2024 revision, marking a change of +10% from the previous year.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2012 to 2024, there has been a +10% change in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft, with the median being Rs 11,500 per sq.ft. Asiad Colony (Near J.N.Road) has a guideline value above this median.

• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• AM- Block, 14th Main Road T S no 67, Plot no 2976A, B,C, D: Rs 13,200 per sq.ft (2024)
• Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• AL- Block, 14th Main Road 2879A, 2895 to 2906, 2930 to 2939, 2939A, B, 2940 to 2944, 2953: Rs 13,200 per sq.ft (2024)
• AL- Block, 12th Main Road 2651, 2679, 2714, 2735, 2786, 2806, 2851, 2873, 2906: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Asiad Colony (Near J.N.Road)

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 Asiad Colony (Near J.N.Road)?

The Sub Registrar Office that covers Asiad Colony (Near J.N.Road) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized valuation of the property.

At the time of registration, the higher of the guideline value or the sale price is considered for calculating the stamp duty. This means that buyers should be aware of the guideline value to understand the potential costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Asiad Colony (Near J.N.Road)?

The current guideline value for Asiad Colony (Near J.N.Road) is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification for Asiad Colony (Near J.N.Road)?

The land classification for Asiad Colony (Near J.N.Road) is Mixed Type - II.

Where can I find the Sub Registrar Office for Asiad Colony (Near J.N.Road)?

The Sub Registrar Office for Asiad Colony (Near J.N.Road) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if a property has a guideline value of Rs 1,32,00,000, the stamp duty would be calculated accordingly.