Guideline Value for Ashok Nagar 59th Street

Ashok Nagar 59th Street guideline value

The current guideline value of Ashok Nagar 59th Street is Rs 5,500 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 III Type - I.

How the guideline value of Ashok Nagar 59th Street has changed

The guideline value for Ashok Nagar 59th Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a 313% increase. However, in the 2017 revision, it decreased to Rs 3,350 per sq.ft, reflecting a 33% drop. The value then rose to Rs 5,000 per sq.ft in the 2023 revision, and subsequently reached Rs 5,500 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 355%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median of Rs 4,900 per sq.ft. The guideline value of Ashok Nagar 59th Street is above this median.

• Ashok Nagar 58th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 5th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 57th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 56th Street(12th Avenue): Rs 7,600 per sq.ft (2024)
• Ashok Nagar 60th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 59th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be 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 fees together to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashok Nagar 59th Street?

The Sub Registrar Office that covers Ashok Nagar 59th Street is 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 critical factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is valued appropriately for taxation purposes. This helps to maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Ashok Nagar 59th Street?

The current guideline value of Ashok Nagar 59th 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, marking an overall increase of 355% over the years.

What are the stamp duty rates for property in Ashok Nagar 59th Street?

The stamp duty rate for property in Ashok Nagar 59th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ashok Nagar 59th Street located?

The Sub Registrar Office for Ashok Nagar 59th Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, with Ashok Nagar 59th Street's value being above this median at Rs 5,500 per sq.ft.