Guideline Value for Ashok Nagar 22nd Street

Ashok Nagar 22nd Street guideline value

The current guideline value of Ashok Nagar 22nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Ashok Nagar 22nd Street has changed

Over the years, the guideline value of Ashok Nagar 22nd Street has seen several revisions. The earliest recorded revision is from 2007, where the value was Rs 1,460 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, reflecting a rise of 242%. However, the value then decreased to Rs 3,350 per sq.ft in 2017, marking a decline of 33%. The most recent revisions show that the value increased to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year. The overall change from 2007 to 2024 is an increase of 277%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The guideline values for the revisions are as follows: 2007 at Rs 1,460 per sq.ft, 2012 at Rs 5,000 per sq.ft, 2017 at Rs 3,350 per sq.ft, 2023 at Rs 5,000 per sq.ft, and the current 2024 value at Rs 5,500 per sq.ft.

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 in this area is Rs 4,900 per sq.ft, making the current value of Ashok Nagar 22nd Street above the median.

• Ashok Nagar 21st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 23rd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 21st Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 24th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 20th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 25th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 22nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ashok Nagar 22nd Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 22nd Street, 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 during the registration of property transactions in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and fairness in property dealings, as it prevents undervaluation and tax evasion during the registration process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 22nd Street?

The current guideline value of Ashok Nagar 22nd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 277%.

What is the land classification of Ashok Nagar 22nd Street?

Ashok Nagar 22nd Street is classified as Residential Class III Type - I.

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 stamp duty calculated for properties in Ashok Nagar 22nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.