Guideline Value for Assisi Nagar 7th St ( Ward No.6 )

Assisi Nagar 7th St ( Ward No.6 ) guideline value

The current guideline value of Assisi Nagar 7th St ( Ward No.6 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Assisi Nagar 7th St ( Ward No.6 ) has changed

In the 2017 revision, the guideline value was Rs 1,005 per sq.ft. This figure saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, marking a change of 49%. The latest revision in 2024 has further increased the guideline value to Rs 1,600 per sq.ft, which is a 7% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 59%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 value for these streets is Rs 1,600 per sq.ft, which is equal to the 2024 guideline value of Assisi Nagar 7th St.

• Assisi Nagar 6th 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)
• Assisi Nagar 5th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 9th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar 4th St ( Ward No.6 ): Rs 1,600 per sq.ft (2024)
• Assisi Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Assisi Nagar 7th St ( Ward No.6 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total 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, making the total cost of duty and fees Rs 1,44,000. 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 Assisi Nagar 7th St ( Ward No.6 )?

The Sub Registrar Office that covers Assisi Nagar 7th 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 during the registration of property transactions in Madhavaram. It helps determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Assisi Nagar 7th St ( Ward No.6 )?

The current guideline value of Assisi Nagar 7th 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 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 59% over these years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registration in Assisi Nagar 7th St ( Ward No.6 )?

The Madhavaram Sub Registrar Office handles property registration for Assisi Nagar 7th St ( Ward No.6 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Assisi Nagar 7th St ( Ward No.6 )?

Assisi Nagar 7th St ( Ward No.6 ) falls under the Residential Class II Type - I land classification.