Guideline Value for Ashok Nagar 80th Street

Ashok Nagar 80th Street guideline value

The current guideline value of Ashok Nagar 80th Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Ashok Nagar 80th Street has changed

The guideline value for Ashok Nagar 80th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 2,060 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in the 2012 revision. However, there was a decrease of 33% to Rs 4,020 per sq.ft in the 2017 revision. This value rose sharply to Rs 6,000 per sq.ft in 2023, followed by a further increase of 10% to the current rate of Rs 6,600 per sq.ft in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 220%. The register does not have figures for the years 2002 and 2003 for this street.

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. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar 80th Street above this median at Rs 6,600 per sq.ft.

• Ashok Nagar 7th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 81st Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 7th Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 82nd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 79th Street: Rs 7,000 per sq.ft (2024)
• Ashok Nagar 83rd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 80th 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, and the registration fee at 2% would be Rs 1,32,000, resulting in a total cost of Rs 5,94,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Ashok Nagar 80th Street?

The Ashok Nagar 80th Street falls under 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 property transactions in Kodambakkam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the government.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration. The guideline value reflects the minimum value at which a property can be registered, ensuring transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar 80th Street?

The current guideline value of Ashok Nagar 80th 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 2,060 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking an overall increase of 220% over the years.

What is the land classification for Ashok Nagar 80th Street?

Ashok Nagar 80th Street is classified as Residential Class II Type - II.

What is the stamp duty rate for properties in Ashok Nagar 80th Street?

The stamp duty rate for properties in Ashok Nagar 80th Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for Ashok Nagar 80th Street?

The Ashok Nagar Sub Registrar Office handles registrations for Ashok Nagar 80th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.