Guideline Value for Ashok Nagar 53rd Street

Ashok Nagar 53rd Street guideline value

The current guideline value of Ashok Nagar 53rd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Ashok Nagar 53rd Street has changed

Over the years, the guideline value of Ashok Nagar 53rd Street has seen significant changes. The 2007 revision set the guideline value at Rs 2,170 per sq.ft, which increased to Rs 4,020 per sq.ft in the 2017 revision, marking an increase of 85%. The 2023 revision then raised the value to Rs 6,000 per sq.ft, reflecting a 49% increase from the previous revision. The current 2024 revision has further increased the guideline value to Rs 6,600 per sq.ft, showing a 10% rise from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 204%.

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, with a median value of Rs 4,900 per sq.ft. The guideline value of Ashok Nagar 53rd Street is above this median.

• Ashok Nagar 52nd Street: Rs 7,600 per sq.ft (2024)
• Ashok Nagar 54th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 51st Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 54th Street Lane: Rs 6,000 per sq.ft (2024)
• Ashok Nagar 50th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 55th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 53rd 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, resulting in a total of Rs 5,94,000. 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 details.

Which Sub Registrar Office covers Ashok Nagar 53rd Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 53rd Street. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements. The guideline value helps in establishing a fair basis for property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 53rd Street?

The current guideline value of Ashok Nagar 53rd 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 2,170 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, which is an overall increase of 204%.

What are the stamp duty and registration fees for property in Ashok Nagar 53rd Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 5,94,000.

Which office handles registrations for Ashok Nagar 53rd Street?

The Ashok Nagar Sub Registrar Office handles registrations for Ashok Nagar 53rd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Ashok Nagar 53rd Street?

The land classification for Ashok Nagar 53rd Street is Residential Class II Type - II.