Guideline Value for Asokan Street

Asokan Street guideline value

The current guideline value of Asokan Street in Nemilicherry village, under the Pallavaram SRO, is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Asokan Street has changed

The guideline value for Asokan Street has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, in 2017, it dropped to Rs 1,340 per sq.ft, before rising again to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,160 per sq.ft, marking an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 440%. Notably, the register has no figures for the years 2002 and 2003 for Asokan Street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, which is the same as the current value for Asokan Street.

• Arulmurugan Ramamoorthy Nagar: Rs 2,420 per sq.ft (2024)
• Arul Murugan Ramamoorthi 2nd Street: Rs 2,160 per sq.ft (2024)
• Arulmurugan Nandavanam Nagar: Rs 2,420 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Balaji Avenue: Rs 2,200 per sq.ft (2024)
• Balaji Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Asokan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, making the total charges Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Asokan Street?

The Sub Registrar Office that covers Asokan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Nemilicherry, the guideline value is crucial as it determines the amount of stamp duty and registration fees payable. This value is set by the government and is periodically revised based on various factors.

At the time of registration, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Asokan Street?

The current guideline value of Asokan Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,160 per sq.ft in 2024, reflecting an overall increase of 440% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 1,94,400.

Which Sub Registrar Office covers Asokan Street?

The Pallavaram Sub Registrar Office covers Asokan Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Asokan Street?

Asokan Street is classified as Residential Class II Type - I, which influences its guideline value and usage.