Guideline Value for Ashok Nagar 3rd Avenue

Ashok Nagar 3rd Avenue guideline value

The current guideline value of Ashok Nagar 3rd 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.

How the guideline value of Ashok Nagar 3rd Avenue has changed

The guideline value for Ashok Nagar 3rd Avenue has undergone several revisions over the years. In 2007, the guideline value was Rs 1,860 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, this value dropped to Rs 5,360 per sq.ft in 2017, marking a decrease of 33%. The value then rose sharply to Rs 8,000 per sq.ft in 2023, and further increased by 10% to the current Rs 8,800 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 373%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 3rd Avenue above this median.

• Ashok Nagar 39th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 38th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 37th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 40th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 36th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 3rd 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 or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 3rd Avenue?

The Sub Registrar Office that covers Ashok Nagar 3rd Avenue is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value assists in calculating the applicable stamp duty and registration fees, which are essential costs in the transaction process. Buyers and sellers should be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ashok Nagar 3rd Avenue?

The current guideline value of Ashok Nagar 3rd 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 from Rs 1,860 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 373% over the years.

What are the stamp duty and registration fees for property transactions?

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.

Which Sub Registrar Office handles Ashok Nagar 3rd Avenue transactions?

The Ashok Nagar Sub Registrar Office handles transactions for Ashok Nagar 3rd Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum registration value for properties, which is essential for calculating stamp duty and registration fees during property transactions.