Guideline Value for Ashok Nagar 58th Street

Ashok Nagar 58th Street guideline value

The current guideline value of Ashok Nagar 58th Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Ashok Nagar 58th Street has changed

The guideline value for Ashok Nagar 58th Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,210 per sq.ft. This value increased significantly to Rs 5,000 per sq.ft in 2012, marking a 313% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. By 2023, the guideline value had risen to Rs 5,000 per sq.ft, and the latest revision in 2024 has set it at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

The changes between these revisions highlight a considerable overall increase of 355% from the 2007 figure to the current 2024 rate. Notably, the guideline values for the years 2002 and 2003 are not available in the register for this street.

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 guideline value for these streets is Rs 4,900 per sq.ft, positioning Ashok Nagar 58th Street above this median.

• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 59th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 56th Street(12th Avenue): Rs 7,600 per sq.ft (2024)
• Ashok Nagar 5th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 55th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 58th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 58th Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 58th Street, 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 value at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions.

When purchasing a property, it is essential to consider the guideline value to ensure compliance with registration requirements. This value serves as a benchmark for the transaction and helps in understanding the financial implications of buying or selling a property in the area.

Frequently asked questions

What is the current guideline value of Ashok Nagar 58th Street?

The current guideline value of Ashok Nagar 58th Street is Rs 5,500 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 5,500 per sq.ft in 2024, showing an overall increase of 355% over the years.

What is the registration office for Ashok Nagar 58th Street?

The registration office for Ashok Nagar 58th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Ashok Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, with Ashok Nagar 58th Street being above this median at Rs 5,500 per sq.ft.