Guideline Value for Ashok Nagar 28th Street

Ashok Nagar 28th Street guideline value

The current guideline value of Ashok Nagar 28th Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Ashok Nagar 28th Street has changed

Over the years, the guideline value of Ashok Nagar 28th Street has undergone several revisions. The earliest recorded revision was in 2007, with a guideline value of Rs 1,210 per sq.ft. This amount saw a significant increase to Rs 6,500 per sq.ft in 2012, followed by a decrease to Rs 4,355 per sq.ft in 2017. The 2023 revision set the value at Rs 6,500 per sq.ft, and the latest revision in 2024 raised it to Rs 7,000 per sq.ft, reflecting an increase of 8% from the previous year.

In summary, the changes between revisions are noteworthy. From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 437%, while the overall increase from 2007 to 2024 stands at 479%. It is important to note that the register has no figures for this street in 2002 and 2003.

Guideline values in Kodambakkam

Kodambakkam comprises 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 28th Street's 2024 figure above this median.

• Ashok Nagar 27th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 29th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 26th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 2nd Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 25th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 2nd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 28th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total fees to Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 28th Street?

The Ashok Nagar 28th Street is covered by 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 details.

How the guideline value is used when you buy or sell in Kodambakkam

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. These costs are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately in the official register.

Understanding the guideline value is essential for both buyers and sellers, as it affects the overall cost of the property transaction. It is advisable to check the latest guideline values before proceeding with any property dealings to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ashok Nagar 28th Street?

The current guideline value of Ashok Nagar 28th Street is Rs 7,000 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 7,000 per sq.ft in 2024, with notable increases and decreases in various revisions.

What is the land classification for Ashok Nagar 28th Street?

The land classification for Ashok Nagar 28th Street is Residential Special Type - III.

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 28th Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 4,90,000.