Guideline Value for Ashok Nagar 42nd Street

Ashok Nagar 42nd Street guideline value

The current guideline value of Ashok Nagar 42nd Street is Rs 6,600 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 II Type - II.

How the guideline value of Ashok Nagar 42nd Street has changed

The guideline value for Ashok Nagar 42nd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,460 per sq.ft, which increased to Rs 4,020 per sq.ft in the 2017 revision, marking a change of +175%. The value rose further to Rs 6,000 per sq.ft in 2023, reflecting a +49% increase from the previous revision. The latest revision in 2024 has set the value at Rs 6,600 per sq.ft, which is a +10% increase from 2023. Notably, there are no figures available for the years 2002, 2003, and 2012 for this street.

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 in this area is Rs 4,900 per sq.ft, indicating that Ashok Nagar 42nd Street's 2024 figure is above this median.

• Ashok Nagar 41st Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 43rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 40th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 44th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 45th Street: Rs 6,600 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 42nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000, bringing the total charges to Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 42nd Street?

The Ashok Nagar 42nd Street falls under the jurisdiction of 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 information.

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

When buying or selling property in Kodambakkam, the guideline value serves as a reference for determining the stamp duty and registration fees. This value is crucial for ensuring that the transaction is registered correctly and that the appropriate taxes are paid.

Additionally, the guideline value is often used by banks and financial institutions to assess the value of a property for loan purposes. It helps in standardizing property valuations, making the registration process smoother for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Ashok Nagar 42nd Street?

The current guideline value of Ashok Nagar 42nd 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 seen several revisions: from Rs 1,460 per sq.ft in 2007 to Rs 4,020 in 2017, then to Rs 6,000 in 2023, and finally to Rs 6,600 in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office covers Ashok Nagar 42nd Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 42nd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Ashok Nagar 42nd Street?

Ashok Nagar 42nd Street is classified as Residential Class II Type - II, indicating its suitability for residential development.