Guideline Value for Asirvatham Nagar

Asirvatham Nagar guideline value

The current guideline value of Asirvatham Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Asirvatham Nagar has changed

The guideline value of Asirvatham Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a remarkable rise of 525%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 5,000 per sq.ft, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft as of 2024. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Asirvatham Nagar's 2024 figure below this median.

• Avvai Nagar: Rs 3,800 per sq.ft (2024)
• Avvai Salai other Street: Rs 3,300 per sq.ft (2024)
• Appu Flats: Rs 7,100 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,800 per sq.ft (2024)
• Anna Street: Rs 3,800 per sq.ft (2024)
• Anna Nagar West Extn: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Asirvatham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Asirvatham Nagar?

The Sub Registrar Office that covers Asirvatham Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mugappair. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure that they comply with the legal requirements during registration.

When a property is sold, the guideline value is used to determine the minimum price at which the property can be registered. This value ensures that the government receives the appropriate taxes on property transactions, reflecting the official value of the property in the area.

Frequently asked questions

What is the current guideline value of Asirvatham Nagar?

The current guideline value of Asirvatham Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What is the median guideline value in Mugappair?

The median guideline value for the 224 streets in Mugappair is Rs 7,100 per sq.ft, with Asirvatham Nagar's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Asirvatham Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value, which for a 1,000 sq.ft plot would total Rs 4,95,000 in fees.

Where is the Sub Registrar Office for Asirvatham Nagar located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.