Guideline Value for Ashok Nagar 60th Street

Ashok Nagar 60th Street guideline value

The current guideline value of Ashok Nagar 60th 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 60th Street has changed

The guideline value for Ashok Nagar 60th Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,210 per sq.ft. This figure increased significantly to Rs 5,000 per sq.ft in 2012, marking an increase of 313%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, representing a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the current 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, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 60th Street's 2024 value above this median.

• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 61st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 5th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 62nd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 59th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 63rd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 60th 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 is charged at 7%, which would be Rs 3,85,000, and the registration fee is at 2%, amounting to Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 60th Street?

The Ashok Nagar 60th Street 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 determining the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

At the time of registration, the guideline value is assessed to calculate the necessary fees. Buyers should be informed that the duty is charged based on the higher amount between the guideline value and the actual sale price, which can significantly affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ashok Nagar 60th Street?

The current guideline value of Ashok Nagar 60th 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 median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, with Ashok Nagar 60th Street's value being above this median.

What are the stamp duty and registration fees for property in Ashok Nagar 60th Street?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for Ashok Nagar 60th Street?

The Ashok Nagar Sub Registrar Office handles the registration for Ashok Nagar 60th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.