Guideline Value for Ashok Nagar 9th Street

Ashok Nagar 9th Street guideline value

The current guideline value of Ashok Nagar 9th 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 9th Street has changed

The guideline value for Ashok Nagar 9th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, the value then decreased by 33% to Rs 3,015 per sq.ft in 2017. The subsequent revision in 2023 brought the value up to Rs 4,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 4,900 per sq.ft, which is a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 305%. 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. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the 2024 guideline value of Ashok Nagar 9th Street.

• Ashok Nagar 9th Avenue: Rs 9,300 per sq.ft (2024)
• Ashok Nagar Colony: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 95th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar Colony 1st Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 94th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar Colony Block 51: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 9th 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, and 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 9th Street?

The Sub Registrar Office that covers Ashok Nagar 9th 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

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 serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ashok Nagar 9th Street?

The current guideline value of Ashok Nagar 9th 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 9th Street?

Ashok Nagar 9th Street falls under the land classification of Residential Class III Type - II.

Where is the Sub Registrar Office for Ashok Nagar 9th Street located?

The Sub Registrar Office for Ashok Nagar 9th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ashok Nagar 9th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at the rate of 7%.