Guideline Value for ASHOKA NAGAR

Ashoka Nagar guideline value

The current guideline value of Ashoka Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ashoka Nagar has changed

The guideline value for Ashoka Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 600 per sq.ft, which increased to Rs 860 per sq.ft in 2007. The 2012 revision saw a significant increase to Rs 4,600 per sq.ft, but this was followed by a decrease to Rs 3,082 per sq.ft in 2017. The value then rose again to Rs 4,600 per sq.ft in 2023 and reached the current value of Rs 5,000 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

From 2003 to 2024, the overall increase in the guideline value is 733%. The most significant change occurred between 2007 and 2012, with an increase of 435%. The revision from 2017 to 2023 saw an increase of 49%, while the jump from 2023 to 2024 was 9%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with the 2024 guideline values ranging 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's 2024 figure below this median.

• Ashoka Nagar Main Road: 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

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the 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, bringing the total to 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. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashoka Nagar?

The Sub Registrar Office that covers Ashoka Nagar 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, as it determines the minimum value at which a property can be registered. When buying or selling property in Arumbakkam, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, buyers and sellers must consider the guideline value, as it influences the overall cost of the transaction. This value ensures that the property is assessed fairly for taxation purposes, reflecting the local market conditions.

Frequently asked questions

What is the current guideline value of Ashoka Nagar?

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

How has the guideline value of Ashoka Nagar changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, with various revisions in between, including an increase of 733% overall from 2003 to 2024.

What are the other guideline values in Arumbakkam?

In Arumbakkam, the guideline values for other streets range from Rs 3,300 to Rs 16,500 per sq.ft, with Ashoka Nagar's value being below the median of Rs 6,000 per sq.ft.

What fees are associated with buying property in Ashoka Nagar?

When buying property in Ashoka Nagar, you will incur stamp duty of 7% and a registration fee of 2%, based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ashoka Nagar located?

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