Guideline Value for Ashok Nagar 5th Street

Ashok Nagar 5th Street guideline value

The current guideline value of Ashok Nagar 5th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Ashok Nagar 5th Street has changed

The guideline value for Ashok Nagar 5th Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,570 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a rise of 187%. However, in the 2017 revision, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 4,500 per sq.ft in the 2023 revision, a 49% increase from the previous revision. The current 2024 revision sees the guideline value at Rs 4,900 per sq.ft, which is a 9% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 212%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Ashok Nagar 5th Street.

• Ashok Nagar 5th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 60th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 59th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 61st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 58th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 62nd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 5th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 5th Street. 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 when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of Ashok Nagar 5th Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,570 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 212% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

What is the land classification of Ashok Nagar 5th Street?

Ashok Nagar 5th Street falls under the Residential Class III Type - II land classification.

Which Sub Registrar Office is responsible for Ashok Nagar 5th Street?

The Ashok Nagar Sub Registrar Office is responsible for Ashok Nagar 5th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.