Guideline Value for Ashok Nagar 17th Street

Ashok Nagar 17th Street guideline value

The current guideline value of Ashok Nagar 17th 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, classified as Residential Class III Type - II.

How the guideline value of Ashok Nagar 17th Street has changed

The guideline value for Ashok Nagar 17th Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 3,015 per sq.ft. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as per the 2024 revision, marking a 9% increase from the previous year.

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

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 value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of Ashok Nagar 17th Street.

• Ashok Nagar 16th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 18th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 16th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 18th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 15th Street (5th Avenue): Rs 8,800 per sq.ft (2024)
• Ashok Nagar 19th Avenue: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 17th 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 be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total cost 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 17th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 17th 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 in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are appropriately calculated based on this value.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. The registration office uses this value to assess the applicable charges, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Ashok Nagar 17th Street?

The current guideline value of Ashok Nagar 17th 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 seen several changes, starting from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305% from 2007 to 2024.

What is the land classification for Ashok Nagar 17th Street?

Ashok Nagar 17th Street is classified as Residential Class III Type - II, indicating its use for residential purposes.

Where can I find the registration office for Ashok Nagar 17th Street?

The registration office for Ashok Nagar 17th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ashok Nagar 17th Street?

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