Guideline Value for Ashok Nagar 61st Street

Ashok Nagar 61st Street guideline value

The current guideline value of Ashok Nagar 61st 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, and is classified as Residential Class III Type - I.

How the guideline value of Ashok Nagar 61st Street has changed

Over the years, the guideline value of Ashok Nagar 61st Street has seen several revisions. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, up from Rs 5,000 per sq.ft in 2023, marking a 10% increase. Prior to that, the 2023 revision saw a significant rise of 49% from Rs 3,350 per sq.ft in 2017. The 2017 revision had decreased by 33% from Rs 5,000 per sq.ft in 2012. The 2012 revision increased by a substantial 313% from Rs 1,210 per sq.ft in 2007. Overall, from 2007 to 2024, there has been an increase of 355% in the guideline value.

It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam village features a range of guideline values, with 1,031 streets under the Ashok Nagar SRO carrying a 2024 figure that ranges from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which means Ashok Nagar 61st Street's current value is above the median.

• Ashok Nagar 60th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 62nd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 63rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 5th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 64th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 61st Street

For a 1,000 sq.ft plot at the current rate of Rs 5,500 per sq.ft, the 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, totaling Rs 4,95,000. It is important to note that 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 specific calculations.

Which Sub Registrar Office covers Ashok Nagar 61st Street?

The Ashok Nagar 61st 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 details.

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 calculating the stamp duty and registration fees, ensuring that all transactions are recorded at a fair value as per the government regulations.

Frequently asked questions

What is the current guideline value of Ashok Nagar 61st Street?

The current guideline value of Ashok Nagar 61st 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 increased from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 355% over the years.

What are the stamp duty and registration fees for properties in Ashok Nagar 61st Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Which Sub Registrar Office covers Ashok Nagar 61st Street?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar 61st Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Ashok Nagar 61st Street?

Ashok Nagar 61st Street is classified as Residential Class III Type - I, indicating its suitability for residential development.