Guideline Value for Assisi Nagar 5th St ( Ward No.6 )

Assisi Nagar 5th St ( Ward No.6 ) guideline value

The current guideline value of Assisi Nagar 5th St ( Ward No.6 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Assisi Nagar 5th St ( Ward No.6 ) has changed

Over the years, the guideline value of Assisi Nagar 5th St has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, the value significantly increased to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

In total, from 2012 to 2024, the guideline value has increased by 33%. The revisions for the years 2002, 2003, and 2007 have no figures listed for this street in the register.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Assisi Nagar 5th St.

• Assisi Nagar 4th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 6th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 3rd St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 7th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 2nd St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 8th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Assisi Nagar 5th St ( Ward No.6 )

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Assisi Nagar 5th St ( Ward No.6 )?

The Sub Registrar Office that covers Assisi Nagar 5th St ( Ward No.6 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties agree on a fair price for the transaction. It is essential for buyers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Assisi Nagar 5th St?

The current guideline value of Assisi Nagar 5th St ( Ward No.6 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with notable increases in 2023 and 2024.

What is the land classification for Assisi Nagar 5th St?

The land classification for Assisi Nagar 5th St is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Assisi Nagar 5th St is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.