Guideline Value for Ashok Nagar 20th Avenue

Ashok Nagar 20th Avenue guideline value

The current guideline value of Ashok Nagar 20th Avenue is Rs 8,800 per sq.ft, effective from 1 July 2024. This area falls under Kodambakkam village and is registered with the Ashok Nagar SRO. The land classification for this street is Mixed Type - I.

How the guideline value of Ashok Nagar 20th Avenue has changed

The guideline value for Ashok Nagar 20th Avenue has seen several revisions over the years. The 2007 revision recorded a value of Rs 2,580 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking a 210% rise. However, in 2017, the value dropped to Rs 5,360 per sq.ft, representing a decrease of 33%. The guideline value then increased to Rs 8,000 per sq.ft in 2023, before reaching the current figure of Rs 8,800 per sq.ft in 2024, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 241%. It is important to note that the 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 that carry 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 for Ashok Nagar 20th Avenue is above this median.

• Ashok Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 20th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 21st Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 1st Cross Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 21st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 1st Avenue: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 20th 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 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 detailed calculations.

Which Sub Registrar Office covers Ashok Nagar 20th Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 20th Avenue, 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 when buying or selling property in Kodambakkam, as it determines the minimum value at which a property can be registered. It is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 20th Avenue?

The current guideline value of Ashok Nagar 20th 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 2,580 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 241% over the years.

What are the stamp duty rates for properties in Ashok Nagar 20th Avenue?

The stamp duty rate for properties in Ashok Nagar 20th Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ashok Nagar 20th Avenue?

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

What is the land classification for Ashok Nagar 20th Avenue?

The land classification for Ashok Nagar 20th Avenue is Mixed Type - I, which indicates the type of development permissible in the area.