Guideline Value for Ashok Nagar 37th Street

Ashok Nagar 37th Street guideline value

The current guideline value of Ashok Nagar 37th 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 37th Street has changed

The guideline value for Ashok Nagar 37th Street has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it dropped to Rs 3,350 per sq.ft in 2017. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024. The revisions for the years 2002 and 2003 show no figures for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 10%. The value saw a dramatic rise of 313% from 2007 to 2012, followed by an overall increase of 355% from 2007 to 2024.

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 for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 37th Street's 2024 figure above the median.

• Ashok Nagar 36th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 38th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 35th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 39th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 34th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 3rd Avenue: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 37th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total cost 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 use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashok Nagar 37th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 37th 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be sold. This ensures transparency in the real estate market and protects both buyers and sellers from undervaluation.

Frequently asked questions

What is the current guideline value of Ashok Nagar 37th Street?

The current guideline value of Ashok Nagar 37th Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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% since 2007.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is lower than the current value of Ashok Nagar 37th Street.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. 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 the Sub Registrar Office for Ashok Nagar 37th Street?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details through the provided link.