Guideline Value for ASHOKA NAGAR WEST STREET

Ashoka Nagar West Street guideline value

The current guideline value of Ashoka Nagar West Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Ashoka Nagar West Street has changed

The guideline value for Ashoka Nagar West Street has seen several revisions over the years. In 2003, the value was set at Rs 600 per sq.ft, which increased to Rs 1,400 per sq.ft in 2007. The 2012 revision brought the value to Rs 5,500 per sq.ft, but it then decreased to Rs 3,685 per sq.ft in 2017. Following this, the value rose significantly to Rs 5,500 per sq.ft in 2023, and currently stands at Rs 6,000 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 saw a decrease of 33%. The 2007 to 2012 period experienced a substantial increase of 293%, while the increase from 2003 to 2007 was 133%. Overall, from 2003 to 2024, the guideline value has increased by 900%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which is equal to the current guideline value of Ashoka Nagar West Street.

• Ashoka Nagar Main Road: Rs 5,000 per sq.ft (2024)
• Ashoka Nagar: Rs 5,000 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total charges Rs 5,40,000. The duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashoka Nagar West Street?

The Sub Registrar Office that covers Ashoka Nagar West Street 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 details.

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 is used to determine the stamp duty and registration fees when buying or selling property. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is essential to refer to the current guideline value to ensure that the correct fees are paid. This helps in maintaining transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ashoka Nagar West Street?

The current guideline value of Ashoka Nagar West Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, with several revisions in between. The most significant increase occurred from 2003 to 2024, which saw a total rise of 900%.

What are the stamp duty and registration fees for properties in Ashoka Nagar West Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 60,00,000, the total charges would be Rs 5,40,000.

Where is the Sub Registrar Office for Ashoka Nagar West Street located?

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

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, which is the same as the current guideline value for Ashoka Nagar West Street.