Guideline Value for Ashok Nagar 15th Avenue

Ashok Nagar 15th Avenue guideline value

The current guideline value of Ashok Nagar 15th Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it is classified as Commercial Special Type - I.

How the guideline value of Ashok Nagar 15th Avenue has changed

The guideline value for Ashok Nagar 15th Avenue has undergone several revisions over the years. The earliest available figure is from 2007, where the value was Rs 4,100 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in 2012, marking a rise of 144%. However, it dropped to Rs 6,700 per sq.ft in 2017, a decrease of 33%. By 2023, the value had risen again to Rs 10,000 per sq.ft, and the most recent revision in 2024 set it at Rs 11,000 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 168%. 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 that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, making the guideline value of Ashok Nagar 15th Avenue above the median.

• Ashok Nagar 14th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 15th Street (5th Avenue): Rs 8,800 per sq.ft (2024)
• Ashok Nagar 13th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 16th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 12th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 16th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 15th Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 15th Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 15th 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 critical factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on this amount.

When a property is sold, the stamp duty and registration fees are assessed based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 15th Avenue?

The current guideline value of Ashok Nagar 15th Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,100 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 168% over this period.

What is the land classification for Ashok Nagar 15th Avenue?

Ashok Nagar 15th Avenue is classified as Commercial Special Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 9,90,000.

Which office handles registrations for Ashok Nagar 15th Avenue?

The Ashok Nagar Sub Registrar Office handles registrations for Ashok Nagar 15th Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.