Guideline Value for Ashok Nagar 34th Street

Ashok Nagar 34th Street guideline value

The current guideline value of Ashok Nagar 34th 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. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ashok Nagar 34th Street has changed

The guideline value for Ashok Nagar 34th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, this value decreased to Rs 3,350 per sq.ft in the 2017 revision. The following year, in 2023, the guideline value rose to Rs 5,000 per sq.ft, and it has now increased to Rs 5,500 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 355% from the 2007 figure to the current 2024 figure. It is important to note that there are no figures available for the revisions in 2002 and 2003 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 in this area is Rs 4,900 per sq.ft, placing Ashok Nagar 34th Street's 2024 figure above this median.

• Ashok Nagar 33rd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 35th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 32nd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 36th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 30th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 37th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 34th 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, while 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 34th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 34th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 34th Street?

The current guideline value of Ashok Nagar 34th 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, marking a total increase of 355% over the years.

What are the stamp duty and registration fees for property in Ashok Nagar 34th Street?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office is responsible for Ashok Nagar 34th Street?

The Ashok Nagar Sub Registrar Office is responsible for Ashok Nagar 34th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Ashok Nagar 34th Street?

The land classification for Ashok Nagar 34th Street is Residential Class III Type - I.