Guideline Value for Aspiran Garden 2nd street

Aspiran Garden 2nd street guideline value

The current guideline value of Aspiran Garden 2nd 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 is classified as Mixed Type - I land.

How the guideline value of Aspiran Garden 2nd street has changed

The guideline value for Aspiran Garden 2nd street has seen significant changes over the years. In 2002, the guideline value was Rs 953 per sq.ft. This increased to Rs 1,300 per sq.ft in 2003, marking a 36% rise. The value then jumped to Rs 2,600 per sq.ft in 2007, reflecting a substantial 100% increase. Following that, it surged to Rs 12,300 per sq.ft in 2012, which was a remarkable 373% increase. However, between 2012 and 2017, the value decreased to Rs 8,241 per sq.ft, representing a 33% decline. The value then rose significantly again to Rs 12,300 per sq.ft in 2023, before reaching the current rate of Rs 13,400 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1306%. There are no figures available in the register for revisions in years not mentioned above.

Guideline values in Egmore

In Egmore village, 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, with a median value of Rs 7,100 per sq.ft. Aspiran Garden 2nd street's 2024 guideline value is above this median.

• Aspiran Garden 2nd cross street: Rs 13,400 per sq.ft (2024)
• Aspiran Garden 1st street: Rs 13,400 per sq.ft (2024)
• Aspiran Garden 1st cross 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 2nd 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, bringing the total to Rs 12,06,000. 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 more details.

Which Sub Registrar Office covers Aspiran Garden 2nd street?

The Sub Registrar Office that covers Aspiran Garden 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Egmore. It serves as the basis for calculating the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the appropriate taxes are collected based on the established rates set by the government.

Frequently asked questions

What is the current guideline value of Aspiran Garden 2nd street?

The current guideline value of Aspiran Garden 2nd street is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 953 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, reflecting an overall increase of 1306% over the years.

What is the land classification of Aspiran Garden 2nd street?

Aspiran Garden 2nd street is classified as Mixed Type - I land.

Where can I find the Sub Registrar Office for Aspiran Garden 2nd street?

The Sub Registrar Office for Aspiran Garden 2nd street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.