Guideline Value for Ashok Nagar 41st Street

Ashok Nagar 41st Street guideline value

The current guideline value of Ashok Nagar 41st Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Ashok Nagar 41st Street has changed

The guideline value for Ashok Nagar 41st Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,300 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Following that, the jump from 2023 to 2024 was 10%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 187%. The register does not provide figures for the years 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 value for these streets is Rs 4,900 per sq.ft, making the 2024 guideline value for Ashok Nagar 41st Street above this median.

• Ashok Nagar 40th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 42nd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 43rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 44th Street: Rs 6,600 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 41st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 41st Street?

The Sub Registrar Office that covers Ashok Nagar 41st 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 plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The buyer must ensure that the transaction reflects the guideline value to avoid any legal complications during registration.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for tax purposes. Buyers and sellers alike should be aware of the current guideline value to ensure compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ashok Nagar 41st Street?

The current guideline value of Ashok Nagar 41st Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 187% over the years.

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, with Ashok Nagar 41st Street's value being above this median.

What are the stamp duty and registration fees for property in Ashok Nagar 41st Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,94,000.

Which office handles registrations for Ashok Nagar 41st Street?

The Ashok Nagar Sub Registrar Office handles registrations for Ashok Nagar 41st Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.