Guideline Value for Ashok Nagar 47th Street

Ashok Nagar 47th Street guideline value

The current guideline value of Ashok Nagar 47th Street is Rs 7,600 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 I Type - III.

How the guideline value of Ashok Nagar 47th Street has changed

Over the years, the guideline value for Ashok Nagar 47th Street has seen significant changes. The 2007 revision recorded a value of Rs 2,110 per sq.ft, which increased dramatically to Rs 7,000 per sq.ft in the 2012 revision, marking a rise of 232%. However, in the 2017 revision, the value decreased to Rs 4,690 per sq.ft, a drop of 33%. The 2023 revision brought it back up to Rs 7,000 per sq.ft, and the most recent 2024 revision set it at Rs 7,600 per sq.ft, reflecting a 9% increase from the previous year. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the value increased by 49%, and overall, from 2007 to 2024, there has been an increase of 260%. This shows the fluctuations in the guideline value over the years, with the current rate being the highest recorded 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 guideline value is Rs 4,900 per sq.ft, placing Ashok Nagar 47th Street's 2024 figure above this median.

• Ashok Nagar 46th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 48th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 45th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 49th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 44th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 4th Avenue: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 47th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value amounts to Rs 76,00,000. The stamp duty, charged at 7%, would be Rs 5,32,000, and the registration fee, charged at 2%, would be Rs 1,52,000. Together, the total cost for these fees would be Rs 6,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashok Nagar 47th Street?

The Ashok Nagar 47th Street is covered by 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 is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate these fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ashok Nagar 47th Street?

The current guideline value of Ashok Nagar 47th Street is Rs 7,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,110 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, marking an overall increase of 260% over the years.

What are the other guideline values in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft.

How is stamp duty calculated for property in Ashok Nagar 47th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 76,00,000 would incur a stamp duty of Rs 5,32,000.

Where can I find my Sub Registrar Office?

The Sub Registrar Office covering Ashok Nagar 47th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details by using the provided link.