Guideline Value for Ashok Nagar 36th Street

Ashok Nagar 36th Street guideline value

The current guideline value of Ashok Nagar 36th 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, and is classified as Residential Class III Type - I.

How the guideline value of Ashok Nagar 36th Street has changed

The guideline value for Ashok Nagar 36th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it saw a decrease to Rs 3,350 per sq.ft in 2017. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and further increased to the current rate of Rs 5,500 per sq.ft in 2024. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Notably, the overall change from 2007 to 2024 reflects a substantial increase of 355% in the guideline value 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 36th Street's current value above this median.

• Ashok Nagar 35th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 37th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 34th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 38th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 33rd Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 39th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 36th 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, bringing the total cost for these fees to 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 information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 36th Street?

The Sub Registrar Office that covers Ashok Nagar 36th 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 details.

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

The guideline value is an essential factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable stamp duty and registration fees, which are required to be paid to complete the transaction legally.

Frequently asked questions

What is the current guideline value of Ashok Nagar 36th Street?

The current guideline value of Ashok Nagar 36th 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, increasing 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 are the other streets in Kodambakkam with the same guideline value?

Several other streets in Kodambakkam have the same guideline value of Rs 5,500 per sq.ft, including Ashok Nagar 35th Street, Ashok Nagar 37th Street, Ashok Nagar 34th Street, Ashok Nagar 33rd Street, and Ashok Nagar 39th Street.

What is the registration office for Ashok Nagar 36th Street?

The registration office for Ashok Nagar 36th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ashok Nagar 36th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.