Guideline Value for Ashok Nagar 18th Avenue

Ashok Nagar 18th Avenue guideline value

The current guideline value of Ashok Nagar 18th 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 18th Avenue has changed

The guideline value for Ashok Nagar 18th Avenue has undergone several revisions over the years. In 2007, the value was Rs 2,110 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017. The value then rose to Rs 8,000 per sq.ft in 2023, before reaching the current rate of Rs 8,800 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 317%. 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 value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 18th Avenue's 2024 rate above this median.

• Ashok Nagar 17th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 18th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 16th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 19th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 16th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 19th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 18th 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 cost for these fees 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 18th Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 18th 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

When buying or selling property in Kodambakkam, the guideline value is a crucial factor as it determines the stamp duty and registration fees applicable to the transaction. The guideline value serves as a benchmark for property transactions, ensuring that the government collects the appropriate taxes based on the value of the property being registered.

Frequently asked questions

What is the current guideline value of Ashok Nagar 18th Avenue?

The current guideline value of Ashok Nagar 18th 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, showing an overall increase of 317% over the years.

What is the registration office for Ashok Nagar 18th Avenue?

The registration office for Ashok Nagar 18th Avenue is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ashok Nagar 18th Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 88,00,000, the stamp duty would be calculated at 7% of that amount.

What are the guideline values of other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values. For instance, Ashok Nagar 17th Street and Ashok Nagar 18th Street both have a guideline value of Rs 4,900 per sq.ft, while Ashok Nagar 16th Street is valued at Rs 5,500 per sq.ft.