Guideline Value for Ashok Nagar 49th Street

Ashok Nagar 49th Street guideline value

The current guideline value of Ashok Nagar 49th Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Residential Special Type - III.

How the guideline value of Ashok Nagar 49th Street has changed

The guideline value for Ashok Nagar 49th Street has seen several revisions over the years. The 2007 revision set the value at Rs 2,110 per sq.ft, which increased to Rs 6,500 per sq.ft in 2012, marking a significant rise of 208%. However, in 2017, the value dropped to Rs 4,355 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 6,500 per sq.ft, before reaching the current value of Rs 7,000 per sq.ft in 2024, reflecting an increase of 8%.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 232%, demonstrating significant fluctuations over the years.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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, placing Ashok Nagar 49th Street above this median at Rs 7,000 per sq.ft.

• Ashok Nagar 48th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 4th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 47th Street: Rs 7,600 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 46th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 45th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 49th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, bringing the total cost to Rs 6,30,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 49th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 49th Street. The office is 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 when registering property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, it is essential to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction. Buyers and sellers should consult the guideline value register to understand the applicable rates for their specific property.

Frequently asked questions

What is the current guideline value of Ashok Nagar 49th Street?

The current guideline value of Ashok Nagar 49th Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,110 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, showing an overall increase of 232% over the years.

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

For a property valued at Rs 70,00,000, the stamp duty would be Rs 4,90,000 and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Which Sub Registrar Office covers Ashok Nagar 49th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 49th 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 used to determine the stamp duty and registration fees during property transactions, ensuring compliance with government regulations.