Guideline Value for Ashok Nagar 56th Street(12th Avenue)

Ashok Nagar 56th Street(12th Avenue) guideline value

The current guideline value of Ashok Nagar 56th Street(12th Avenue) is Rs 7,600 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 I Type - III.

How the guideline value of Ashok Nagar 56th Street(12th Avenue) has changed

The guideline value for Ashok Nagar 56th Street(12th Avenue) has undergone several revisions over the years. The earliest recorded revision shows a value of Rs 1,860 per sq.ft in 2007. This increased significantly to Rs 7,000 per sq.ft in 2012, marking an increase of 276%. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The guideline value then rose sharply to Rs 7,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 7,600 per sq.ft, an increase of 9% from the previous year.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 309%.

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 value across these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 56th Street(12th Avenue) above this median.

• Ashok Nagar 55th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 54th Street Lane: Rs 6,000 per sq.ft (2024)
• Ashok Nagar 58th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 54th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 59th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 56th Street(12th Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,600 per sq.ft, the total guideline value would be Rs 76,00,000. The stamp duty at 7% would amount to Rs 5,32,000, and the registration fee at 2% would be Rs 1,52,000, bringing the total to Rs 6,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 56th Street(12th Avenue)?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 56th Street(12th Avenue). 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 additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the fair value of the property. It is essential to be aware of these values to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar 56th Street(12th Avenue)?

The current guideline value of Ashok Nagar 56th Street(12th Avenue) is Rs 7,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,860 per sq.ft in 2007 to Rs 7,600 per sq.ft in 2024, reflecting an overall increase of 309% over this period.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, which is below the current value of Ashok Nagar 56th Street(12th Avenue).

What are the stamp duty and registration fees for properties in Ashok Nagar 56th Street(12th Avenue)?

For a property valued at Rs 76,00,000, the stamp duty would be Rs 5,32,000, and the registration fee would be Rs 1,52,000, totaling Rs 6,84,000.

Which Sub Registrar Office covers Ashok Nagar 56th Street(12th Avenue)?

The Ashok Nagar Sub Registrar Office covers this street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.