Guideline Value for Ashok Nagar 62nd Street

Ashok Nagar 62nd Street guideline value

The current guideline value of Ashok Nagar 62nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Ashok Nagar 62nd Street has changed

Over the years, the guideline value for Ashok Nagar 62nd Street has seen several revisions. The 2007 revision set the value at Rs 1,970 per sq.ft. This increased significantly to Rs 6,000 per sq.ft in the 2012 revision, marking a 205% rise. However, the value decreased to Rs 4,020 per sq.ft in 2017, which was a 33% drop. By the 2023 revision, the value rose again to Rs 6,000 per sq.ft, and the latest 2024 revision has set it at Rs 6,600 per sq.ft, reflecting 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 235%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Ashok Nagar 62nd Street is above this median.

• Ashok Nagar 61st Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 63rd Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 60th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 64th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 65th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 62nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ashok Nagar 62nd Street?

The Ashok Nagar 62nd 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 in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities will assess the guideline value to ensure that the appropriate taxes are levied. This value helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ashok Nagar 62nd Street?

The current guideline value of Ashok Nagar 62nd Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,970 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Ashok Nagar 62nd Street?

Ashok Nagar 62nd Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for this property?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Sub Registrar Office for Ashok Nagar 62nd Street located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.