Guideline Value for Ashok Nagar 23rd Street

Ashok Nagar 23rd Street guideline value

The current guideline value of Ashok Nagar 23rd 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 23rd Street has changed

The guideline value for Ashok Nagar 23rd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,460 per sq.ft, which increased to Rs 3,350 per sq.ft in the 2017 revision, marking a significant increase of 129%. Following this, the 2023 revision raised the value to Rs 5,000 per sq.ft, reflecting a 49% increase from the previous revision.

The most recent revision in 2024 has further increased the guideline value to Rs 5,500 per sq.ft, a rise of 10% from the 2023 figure. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 277%. It is important to note that the register has no figures for the years 2002, 2003, and 2012 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 guideline value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 23rd Street's 2024 figure above this median.

• Ashok Nagar 22nd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 24th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 21st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 25th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 21st Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 26th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 23rd 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, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 23rd Street?

The Ashok Nagar 23rd Street falls under 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 plays a crucial role 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 transparency in property transactions.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Ashok Nagar 23rd Street?

The current guideline value for Ashok Nagar 23rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty and registration fees for properties in Ashok Nagar 23rd Street?

The stamp duty for a property valued at Rs 55,00,000 would be Rs 3,85,000, while the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Ashok Nagar 23rd Street?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, covers Ashok Nagar 23rd Street.

What is the land classification for Ashok Nagar 23rd Street?

Ashok Nagar 23rd Street is classified as Residential Class III Type - I under the guideline value register.