Guideline Value for Ashok Nagar 8th Street

Ashok Nagar 8th Street guideline value

The current guideline value of Ashok Nagar 8th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Ashok Nagar 8th Street has changed

The guideline value for Ashok Nagar 8th Street has seen several revisions over the years. The earliest recorded value is from 2007, at Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. From 2017 to 2023, the value surged to Rs 4,500 per sq.ft, reflecting a 49% increase. The latest revision in 2024 has set the value at Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 is Rs 4,900 per sq.ft, which is also the current value for Ashok Nagar 8th Street.

• Ashok Nagar 8th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 90th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 89th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 91st Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 88th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 92nd Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the 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 8th Street?

The Sub Registrar Office that covers Ashok Nagar 8th Street is the Ashok Nagar Sub Registrar Office, 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 serves as a benchmark for determining the stamp duty and registration fees. This value is crucial for the registration process, as it ensures that the transaction is recorded at a fair rate based on the current market conditions.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. Understanding this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 8th Street?

The current guideline value of Ashok Nagar 8th 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 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What is the land classification for Ashok Nagar 8th Street?

Ashok Nagar 8th Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000 based on the guideline value.

Where is the Sub Registrar Office for Ashok Nagar 8th Street located?

The Sub Registrar Office for Ashok Nagar 8th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.