Guideline Value for Ashok Nagar 29th Street

Ashok Nagar 29th Street guideline value

The current guideline value of Ashok Nagar 29th 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 29th Street has changed

The guideline value for Ashok Nagar 29th Street has seen several revisions over the years. The 2024 revision sets the value at Rs 5,500 per sq.ft, an increase from Rs 5,000 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 3,350 per sq.ft, which reflects a significant increase of 49% from the previous revision in 2023. The register has no figures for the years 2002 and 2003.

In earlier revisions, the 2012 guideline value was Rs 5,000 per sq.ft, showing a decrease of 33% from Rs 3,350 per sq.ft in 2017. The 2007 revision had a value of Rs 1,210 per sq.ft, which was a substantial increase of 313% from the 2002 and 2003 revisions, where no figures are available. 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 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing Ashok Nagar 29th Street above this median.

• Ashok Nagar 28th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 2nd Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 27th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 26th Street: Rs 5,500 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 29th 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 at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of 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 also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Ashok Nagar 29th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 29th 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 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 of a property, ensuring that the transaction is recorded at a fair price as per government standards.

When a property is registered, 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 the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar 29th Street?

The current guideline value of Ashok Nagar 29th 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 significantly, from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355%.

What is the registration office for Ashok Nagar 29th Street?

The registration office for Ashok Nagar 29th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where can I find more information about guideline values in Kodambakkam?

For more information about guideline values in Kodambakkam, you can refer to the Registration Department's guideline value register available on TNReginet.