Guideline Value for Asian Street

Asian Street guideline value

The current guideline value of Asian Street in Kathirvedu village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Asian Street has changed

The guideline value for Asian Street has seen several revisions over the years. In 2002, the value was Rs 67 per sq.ft, which increased to Rs 85 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, and then to Rs 1,000 per sq.ft in 2012. However, it dropped to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

Between the revisions, the most notable changes include a 400% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 1542%. There are no records of any revisions for this street in the years not mentioned.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. Asian Street's 2024 guideline value is below this median.

• Babuji Nagar: Rs 1,500 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,500 per sq.ft (2024)
• Anna Street: Rs 1,100 per sq.ft (2024)
• Bala Murugan Nagar: Rs 1,500 per sq.ft (2024)
• Ambedkar Street: Rs 1,100 per sq.ft (2024)
• Ambal Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Asian Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Asian Street?

The Sub Registrar Office that covers Asian Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kathirvedu. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should consider this value when negotiating prices to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Asian Street?

The current guideline value of Asian Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1542% over this period.

What is the registration office for Asian Street?

The registration office for Asian Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What are the stamp duty and registration fees for property in Asian Street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

What is the land classification for Asian Street?

Asian Street is classified as Residential Class IV Type - I, which is important for understanding its usage and value in real estate transactions.