Guideline Value for Ashok Nagar 14th Street

Ashok Nagar 14th Street guideline value

The current guideline value of Ashok Nagar 14th 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 Residential Class III Type - II land classification.

How the guideline value of Ashok Nagar 14th Street has changed

Over the years, the guideline value of Ashok Nagar 14th Street has seen several revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 3,015 per sq.ft in the 2017 revision. The subsequent 2023 revision raised the value to Rs 4,500 per sq.ft, and the latest revision in 2024 has further increased it to Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

Examining the percentage changes between these revisions reveals a notable increase of 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%. The jump from 2007 to 2012 was substantial at 272%. Overall, from 2007 to 2024, 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

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 aligns with the current value of Ashok Nagar 14th Street.

• Ashok Nagar 13th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 15th Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 12th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 15th Street (5th Avenue): Rs 8,800 per sq.ft (2024)
• Ashok Nagar 12th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 16th Avenue: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 14th 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 14th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 14th 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 plays a crucial role in property transactions in Kodambakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is taken into account for calculating the stamp duty and registration fees. This ensures that the transaction is recorded at a value that reflects the property's worth as determined by the government.

Frequently asked questions

What is the current guideline value of Ashok Nagar 14th Street?

The current guideline value of Ashok Nagar 14th 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 significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024. Notable revisions include an increase of 49% from 2017 to 2023.

What is the land classification for Ashok Nagar 14th Street?

Ashok Nagar 14th Street falls under Residential Class III Type - II land classification.

Where is the Ashok Nagar Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Ashok Nagar 14th Street?

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