Guideline Value for Asokan Street

Asokan Street guideline value

The current guideline value of Asokan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Asokan Street has changed

The guideline value for Asokan Street has seen significant changes over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 226 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 360 per sq.ft in 2007, a substantial increase of 59%. Following this, the 2017 revision set the value at Rs 1,206 per sq.ft, reflecting a dramatic 235% increase from the previous figure. The 2023 revision further raised the value to Rs 1,800 per sq.ft, a 49% increase from 2017. The latest revision in 2024 established the current guideline value at Rs 1,980 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figure for Asokan Street in 2012. Overall, from 2002 to 2024, the guideline value has increased by 890%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median value for these streets is Rs 2,090 per sq.ft, indicating that Asokan Street's current value is below this median.

• Asireyar Samuel Street / Gokulam Colony: Rs 2,750 per sq.ft (2024)
• Asireyar Krishnasawmy Street/ Pammal Main Road: Rs 2,200 per sq.ft (2024)
• Asireyar Krishnasawmy Street/ Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)
• Avaiyar Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Ayyappa Nagar All Main Roads: Rs 1,980 per sq.ft (2024)
• Ayyappa Nagar (All Streets): Rs 1,870 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in property transactions, providing a standardized measure for buyers and sellers. It is essential to be aware of the current guideline value when engaging in property dealings to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Asokan Street?

The current guideline value of Asokan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value of Asokan Street changed over the years?

The guideline value has increased significantly over the years, from Rs 200 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 890%.

What are the stamp duty and registration fees for properties on Asokan Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Asokan Street?

The Pammal Sub Registrar Office handles registrations for Asokan Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value of streets in Pammal?

The median guideline value of streets in Pammal is Rs 2,090 per sq.ft, with Asokan Street's current value being below this median.