Guideline Value for Ashok Nagar 54th Street Lane

Ashok Nagar 54th Street Lane guideline value

The current guideline value of Ashok Nagar 54th Street Lane is Rs 6,000 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 II Type - III.

How the guideline value of Ashok Nagar 54th Street Lane has changed

Over the years, the guideline value for Ashok Nagar 54th Street Lane has seen significant changes. The 2007 revision recorded a value of Rs 2,110 per sq.ft, which increased to Rs 5,500 per sq.ft in 2012, marking a rise of 161%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The 2017 revision brought the value up to Rs 5,500 per sq.ft in 2023, representing a 49% increase. The current value of Rs 6,000 per sq.ft from the 2024 revision shows a 9% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 184%.

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. The median value is Rs 4,900 per sq.ft, placing the guideline value of Ashok Nagar 54th Street Lane above this median.

• Ashok Nagar 54th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 55th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 53rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 56th Street(12th Avenue): Rs 7,600 per sq.ft (2024)
• Ashok Nagar 52nd Street: Rs 7,600 per sq.ft (2024)
• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 54th Street Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 54th Street Lane?

The Ashok Nagar 54th Street Lane 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 information.

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 calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Ashok Nagar 54th Street Lane?

The current guideline value of Ashok Nagar 54th Street Lane is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,110 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 184% over this period.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Ashok Nagar 54th Street Lane's current value being above this median.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is generally charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ashok Nagar 54th Street Lane?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find more details by visiting the relevant link.