Guideline Value for Ashok Nagar 26th Street

Ashok Nagar 26th Street guideline value

The current guideline value of Ashok Nagar 26th Street is Rs 5,500 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 - I.

How the guideline value of Ashok Nagar 26th Street has changed

The guideline value for Ashok Nagar 26th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 1,210 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking a 313% rise. However, it then saw a decrease to Rs 3,350 per sq.ft in 2017, representing a 33% drop. The value rebounded to Rs 5,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

There are no guideline value figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 355%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 26th Street above this median.

• Ashok Nagar 25th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 27th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 24th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 28th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 23rd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 29th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 26th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty, charged at 7%, would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 26th Street?

The Sub Registrar Office that covers Ashok Nagar 26th 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 during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these fees are calculated based on an officially recognized value.

When a property is sold, the guideline value helps in establishing the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, preventing undervaluation and tax evasion.

Frequently asked questions

What is the current guideline value of Ashok Nagar 26th Street?

The current guideline value of Ashok Nagar 26th 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 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 355% over the years.

What is the stamp duty rate applicable in Ashok Nagar 26th Street?

The stamp duty rate applicable in Ashok Nagar 26th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ashok Nagar 26th Street located?

The Sub Registrar Office for Ashok Nagar 26th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Ashok Nagar 26th Street's current value being above this median.