Guideline Value for Ashok Nagar 79th Street

Ashok Nagar 79th Street guideline value

The current guideline value of Ashok Nagar 79th Street is Rs 7,000 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 Special Type - III.

How the guideline value of Ashok Nagar 79th Street has changed

Over the years, the guideline value for Ashok Nagar 79th Street has seen several revisions. The 2007 revision set the value at Rs 2,110 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 4,355 per sq.ft in 2017. The value then rose again to Rs 6,500 per sq.ft in the 2023 revision, before reaching the current figure of Rs 7,000 per sq.ft in the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 208% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 232%.

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. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 79th Street above this median.

• Ashok Nagar 77th Street: Rs 6,600 per sq.ft (2024)
• Ashok Nagar 7th Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 6th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 7th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 6th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 80th Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 79th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty, charged at 7%, would be Rs 4,90,000, while the registration fee at 2% would be Rs 1,40,000. Together, these fees would total Rs 6,30,000. 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 79th Street?

The Ashok Nagar 79th Street falls under the jurisdiction of the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Kodambakkam

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. When a property is bought or sold, the guideline value serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that these charges are calculated fairly based on the property's assessed value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ashok Nagar 79th Street?

The current guideline value of Ashok Nagar 79th Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,110 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 232%.

What is the land classification for Ashok Nagar 79th Street?

Ashok Nagar 79th Street is classified as Residential Special Type - III.

Where is the Ashok Nagar Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 70,00,000 would incur a stamp duty of Rs 4,90,000 and a registration fee of Rs 1,40,000.