Guideline Value for ASHOKA NAGAR MAIN ROAD

Ashoka Nagar Main Road guideline value

The current guideline value of Ashoka Nagar Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ashoka Nagar Main Road has changed

The guideline value for Ashoka Nagar Main Road has seen several revisions over the years. In 2003, the guideline value was Rs 600 per sq.ft, which increased to Rs 850 per sq.ft in 2007. The value then rose significantly to Rs 4,600 per sq.ft in 2012, before decreasing to Rs 3,082 per sq.ft in 2017. The 2023 revision set the value at Rs 4,600 per sq.ft, and the most recent revision in 2024 has raised it to Rs 5,000 per sq.ft.

Between the revisions, the changes are notable. From 2003 to 2007, the value increased by 42%, followed by a staggering 441% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and increased by 9% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 733%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value range from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Ashoka Nagar Main Road's 2024 value below this median.

• Ashoka Nagar: Rs 5,000 per sq.ft (2024)
• Ashoka Nagar West Street: Rs 6,000 per sq.ft (2024)
• Arunachalapuram Street: Rs 5,700 per sq.ft (2024)
• Arignar Anna Street: Rs 5,300 per sq.ft (2024)
• Avvai Street: Rs 5,000 per sq.ft (2024)
• Ayyavoo Colony -Ammayee Ammal Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashoka Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total fees Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashoka Nagar Main Road?

The Sub Registrar Office that covers Ashoka Nagar Main Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ashoka Nagar Main Road?

The current guideline value of Ashoka Nagar Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 733% over the years.

What is the registration fee for property in Ashoka Nagar Main Road?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 50,00,000, the registration fee would be Rs 1,00,000.

Where can I find the Sub Registrar Office for Ashoka Nagar Main Road?

The Sub Registrar Office for Ashoka Nagar Main Road is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Arumbakkam?

The median guideline value for streets in Arumbakkam is Rs 6,000 per sq.ft, while Ashoka Nagar Main Road's guideline value is below this median at Rs 5,000 per sq.ft.