Guideline Value for Ashok Nagar 4th Avenue

Ashok Nagar 4th Avenue guideline value

The current guideline value of Ashok Nagar 4th 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, and is classified as Mixed Type - I land.

How the guideline value of Ashok Nagar 4th Avenue has changed

The guideline value for Ashok Nagar 4th Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 4,930 per sq.ft, which increased to Rs 8,000 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease to Rs 5,360 per sq.ft. The value then rose significantly to Rs 8,000 per sq.ft in 2023, and most recently, it has increased to Rs 8,800 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 78%. The fluctuations reflect changes in the local real estate landscape over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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 4th Avenue is above this median.

• Ashok Nagar 49th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 48th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 47th Street: Rs 7,600 per sq.ft (2024)
• Ashok Nagar 50th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 46th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 4th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 4th Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 4th Avenue. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of Ashok Nagar 4th Avenue?

The current guideline value of Ashok Nagar 4th 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 several times, with the most recent increase from Rs 8,000 per sq.ft in 2023 to Rs 8,800 per sq.ft in 2024. The overall increase from 2007 to 2024 is 78%.

What is the land classification for Ashok Nagar 4th Avenue?

Ashok Nagar 4th Avenue is classified as Mixed Type - I land, which influences its guideline value and usage.

Where can I find the Ashok Nagar Sub Registrar Office?

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

How is the stamp duty calculated for property in Ashok Nagar 4th Avenue?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 6,16,000 at 7% of the guideline value.