Guideline Value for Ashok Nagar 38th Street

Ashok Nagar 38th Street guideline value

The current guideline value of Ashok Nagar 38th Street is Rs 4,900 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 - II.

How the guideline value of Ashok Nagar 38th Street has changed

Over the years, the guideline value of Ashok Nagar 38th Street has seen several revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 272%. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has brought the guideline value to Rs 4,900 per sq.ft, a 9% increase from the previous year.

It is important to note that the register has no figure for Ashok Nagar 38th Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, 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, which is equal to the guideline value of Ashok Nagar 38th Street.

• Ashok Nagar 37th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 39th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 36th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 3rd Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 35th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 38th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. 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 further calculations.

Which Sub Registrar Office covers Ashok Nagar 38th Street?

The Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office), covers Ashok Nagar 38th Street. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 38th Street?

The current guideline value of Ashok Nagar 38th Street is Rs 4,900 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 4,900 per sq.ft in 2024, reflecting an overall increase of 305%.

What are the stamp duty and registration fees for properties in Ashok Nagar 38th Street?

For a 1,000 sq.ft plot at the guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles the registration for Ashok Nagar 38th Street?

The Ashok Nagar Sub Registrar Office handles the registration for Ashok Nagar 38th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration, ensuring that the appropriate stamp duty and registration fees are collected by the government.