Guideline Value for ASHOK NAGAR

Ashok Nagar guideline value

The current guideline value of Ashok Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Ashok Nagar has changed

The guideline value for Ashok Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 250 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 1,300 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to 2023, the guideline value increased by 49%. Following that, there was an 8% increase from the 2023 to 2024 revision. Overall, from 2007 to 2024, the guideline value has increased by 420%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, indicating that Ashok Nagar's 2024 figure is below this median.

• A.R.N. Nagar Annexe: Rs 2,700 per sq.ft (2024)
• A.R.N. Nagar: Rs 2,700 per sq.ft (2024)
• Anugraha Apartments: Rs 2,500 per sq.ft (2024)
• Antony Street: Rs 1,300 per sq.ft (2024)
• Bajanai Koil Street (Korattur): Rs 2,500 per sq.ft (2024)
• Bajanai Koil Street (Korattur) (Kachinakuppam): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Ashok Nagar?

The Sub Registrar Office that covers Ashok Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Korattur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar?

The current guideline value of Ashok Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 420% over this period.

What is the median guideline value for streets in Korattur?

The median guideline value for the 617 streets in Korattur under the Villivakkam SRO is Rs 2,500 per sq.ft, which is above the current value of Ashok Nagar.

What are the stamp duty rates for property in Ashok Nagar?

The stamp duty rate for property in Ashok Nagar is 7%, while the registration fee is 2%. These charges are based on the guideline value or the sale price, whichever is higher.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.