Guideline Value for Aspiran Garden 1st street

Aspiran Garden 1st street guideline value

The current guideline value of Aspiran Garden 1st street is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and the land classification is Mixed Type - I.

How the guideline value of Aspiran Garden 1st street has changed

The guideline value for Aspiran Garden 1st street has undergone several revisions over the years. The earliest recorded revision is from 2003, where the value was Rs 1,300 per sq.ft. This figure saw a significant increase to Rs 3,393 per sq.ft in 2007, marking a change of +161%. The value then surged to Rs 12,300 per sq.ft in 2012, reflecting an increase of +263%. However, it dropped to Rs 8,241 per sq.ft in 2017, a decrease of -33%. The value rose again to Rs 12,300 per sq.ft in 2023, followed by the current value of Rs 13,400 per sq.ft from the 2024 revision, which is an increase of +9% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +931%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which means that the 2024 figure for Aspiran Garden 1st street is above this median.

• Aspiran Garden 1st cross street: Rs 13,400 per sq.ft (2024)
• Aspiran Garden 2nd cross street: Rs 13,400 per sq.ft (2024)
• Aspiran Garden 2nd street: Rs 13,400 per sq.ft (2024)
• Audiappa Gramani Street: Rs 7,100 per sq.ft (2024)
• Avvaipuram: Rs 3,400 per sq.ft (2024)
• Arvamudan Garden Street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Aspiran Garden 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value amounts to Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, totaling Rs 12,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Aspiran Garden 1st street?

The Sub Registrar Office that covers Aspiran Garden 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This helps maintain transparency and fairness in property transactions, as it prevents undervaluation and ensures that all parties are aware of the official value assigned to the property.

Frequently asked questions

What is the current guideline value of Aspiran Garden 1st street?

The current guideline value of Aspiran Garden 1st street is Rs 13,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,300 per sq.ft in 2003 to Rs 13,400 per sq.ft in 2024, marking an overall increase of +931% over the years.

What is the median guideline value in Egmore?

The median guideline value in Egmore is Rs 7,100 per sq.ft, with Aspiran Garden 1st street's value being above this median.

What are the stamp duty and registration fees for Aspiran Garden 1st street?

For a property valued at Rs 1,34,00,000, the stamp duty would be Rs 9,38,000 and the registration fee would be Rs 2,68,000, totaling Rs 12,06,000.

Where is the Sub Registrar Office for Aspiran Garden 1st street located?

The Sub Registrar Office for Aspiran Garden 1st street is located at 1103, Poonamallee High Road, Chennai-600 003.