Guideline Value for Ashok Nagar 5th Avenue

Ashok Nagar 5th Avenue guideline value

The current guideline value of Ashok Nagar 5th 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 5th Avenue has changed

The guideline value for Ashok Nagar 5th Avenue has undergone several revisions over the years. The 2007 revision set the value at Rs 2,110 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 5,360 per sq.ft. The 2023 revision brought it back up to Rs 8,000 per sq.ft, and the current 2024 revision has further increased it to Rs 8,800 per sq.ft.

Between these revisions, the changes have been notable. From 2007 to 2012, there was a substantial increase of 279%. However, the value fell by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the latest increase of 10% from 2023 to 2024 brings the overall change from 2007 to 2024 to 317%. The guideline register has no 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 carrying 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 5th Avenue is above this median.

• Ashok Nagar 59th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 58th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 60th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 61st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 5th 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, 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 5th Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 5th Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for further assistance.

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

When buying or selling property in Kodambakkam, the guideline value is crucial as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

It is important for buyers and sellers to be aware of the guideline value, as it affects the overall cost of property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 5th Avenue?

The current guideline value of Ashok Nagar 5th 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 2,110 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 317% over this period.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 88,00,000, the total fees would amount to Rs 7,92,000.

Which office handles registrations for Ashok Nagar 5th Avenue?

The Ashok Nagar Sub Registrar Office handles registrations for Ashok Nagar 5th 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 serves as a benchmark for property transactions, determining the minimum value for registration and influencing the calculation of stamp duty and registration fees.