Guideline Value for Ashok Nagar 44th Street

Ashok Nagar 44th Street guideline value

The current guideline value of Ashok Nagar 44th 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 falls under the Residential Class II Type - II land classification.

How the guideline value of Ashok Nagar 44th Street has changed

Over the years, the guideline value of Ashok Nagar 44th Street has seen significant changes. The 2007 revision set the value at Rs 1,460 per sq.ft, which increased to Rs 4,020 per sq.ft in 2017, marking a substantial rise of 175%. The value continued to rise to Rs 6,000 per sq.ft in 2023, reflecting an increase of 49% from the previous revision. The current 2024 revision shows a further increase to Rs 6,600 per sq.ft, which is a 10% rise from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by an impressive 352%.

Guideline values in Kodambakkam

Kodambakkam village has a range of guideline values across its 1,031 streets under the Ashok Nagar SRO, with 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, which means that Ashok Nagar 44th Street's 2024 figure of Rs 6,600 per sq.ft is above the median.

• Ashok Nagar 43rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 45th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 42nd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 46th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 41st Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 47th Street: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 44th 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, and the registration fee at 2% would be Rs 1,32,000, leading to a total of Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 44th Street?

The Sub Registrar Office that covers Ashok Nagar 44th 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 information.

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

The guideline value plays a crucial role during the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining 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 is essential for both parties to understand the legal obligations and costs involved. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ashok Nagar 44th Street?

The current guideline value of Ashok Nagar 44th 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 increased from Rs 1,460 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 352% over this period.

What is the land classification for Ashok Nagar 44th Street?

Ashok Nagar 44th Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Ashok Nagar 44th Street?

The Sub Registrar Office for Ashok Nagar 44th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 66,00,000, the stamp duty at 7% would be Rs 4,62,000.