Guideline Value for Ashok Nagar 2nd Avenue

Ashok Nagar 2nd Avenue guideline value

The current guideline value of Ashok Nagar 2nd Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Mixed Type - I land.

How the guideline value of Ashok Nagar 2nd Avenue has changed

Over the years, the guideline value of Ashok Nagar 2nd Avenue has seen significant changes. In 2007, the guideline value was Rs 2,580 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. This was a remarkable increase of 210%. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft, marking a decline of 33%. The value then rose sharply to Rs 8,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 8,800 per sq.ft, which is a 10% increase from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 241%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of Ashok Nagar 2nd Avenue is above this median.

• Ashok Nagar 29th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 28th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 27th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 30th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 26th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total to Rs 7,92,000. 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 detailed calculations.

Which Sub Registrar Office covers Ashok Nagar 2nd Avenue?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Ashok Nagar 2nd Avenue. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Ashok Nagar 2nd Avenue?

The current guideline value of Ashok Nagar 2nd Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,580 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 241%.

What are the stamp duty and registration fees for properties in Ashok Nagar 2nd Avenue?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Ashok Nagar 2nd Avenue?

Ashok Nagar 2nd Avenue is classified as Mixed Type - I land.