Guideline Value for Ashok Nagar 50th Street

Ashok Nagar 50th Street guideline value

The current guideline value of Ashok Nagar 50th 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, classified as Residential Class II Type - II.

How the guideline value of Ashok Nagar 50th Street has changed

Over the years, the guideline value of Ashok Nagar 50th Street has seen significant revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased to Rs 4,020 per sq.ft in 2017, marking a change of 232%. The value continued to rise, reaching Rs 6,000 per sq.ft in 2023, a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase 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 445%.

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 in this area is Rs 4,900 per sq.ft, placing the 2024 figure for Ashok Nagar 50th Street above this median.

• Ashok Nagar 51st Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 52nd Street: Rs 7,600 per sq.ft (2024)
• Ashok Nagar 4th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 53rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 49th Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 50th 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, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 50th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 50th 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 information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum price at which a property can be sold or registered. Buyers and sellers must consider this value to ensure compliance with legal and financial obligations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 50th Street?

The current guideline value of Ashok Nagar 50th Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,210 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which is a total increase of 445% over this period.

What are the stamp duty and registration fees for properties in this area?

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 handles registrations for Ashok Nagar 50th Street?

The Ashok Nagar Sub Registrar Office is responsible for registrations in Ashok Nagar 50th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

Are there other streets with similar guideline values in Kodambakkam?

Yes, there are several other streets in Kodambakkam with similar guideline values. For example, Ashok Nagar 51st Street and Ashok Nagar 53rd Street both have a guideline value of Rs 6,600 per sq.ft in 2024.