Guideline Value for Ashok Nagar 55th Street

Ashok Nagar 55th Street guideline value

The current guideline value of Ashok Nagar 55th 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, and is classified as Residential Class II Type - II.

How the guideline value of Ashok Nagar 55th Street has changed

The guideline value for Ashok Nagar 55th Street has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then decreased to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023 and is now set at Rs 6,600 per sq.ft for 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The change from 2012 to 2017 saw a decrease of 33%, while the jump from 2007 to 2012 was a remarkable 396%. Overall, from 2007 to 2024, the guideline value has increased by 445%. The register has no figures for this street for the years 2002 and 2003.

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 value is Rs 4,900 per sq.ft, indicating that Ashok Nagar 55th Street's current value is above this median.

• Ashok Nagar 54th Street Lane: Rs 6,000 per sq.ft (2024)
• Ashok Nagar 56th Street(12th Avenue): Rs 7,600 per sq.ft (2024)
• Ashok Nagar 54th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 53rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 58th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 55th 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, while the registration fee at 2% would be Rs 1,32,000, totaling 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ashok Nagar 55th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 55th 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 when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal and financial implications of the transaction. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ashok Nagar 55th Street?

The current guideline value of Ashok Nagar 55th 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 changed from Rs 1,210 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 445% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Ashok Nagar 55th Street's value being above this median.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty for a 1,000 sq.ft plot would be Rs 4,62,000.