Guideline Value for Ashok Nagar 86th Street

Ashok Nagar 86th Street guideline value

The current guideline value of Ashok Nagar 86th 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, classified as Residential Class III Type - I.

How the guideline value of Ashok Nagar 86th Street has changed

The guideline value for Ashok Nagar 86th Street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 1,210 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 313%. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision saw another increase to Rs 5,000 per sq.ft, followed by the current value of Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

Notably, there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 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. The median guideline value is Rs 4,900 per sq.ft, placing Ashok Nagar 86th Street above this median.

• Ashok Nagar 85th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 87th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 84th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 88th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 83rd Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 89th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 86th 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 at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for stamp duty and registration fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar 86th Street?

The Ashok Nagar 86th Street falls under the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near 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 an important factor in property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher value between the guideline value and the actual sale price. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ashok Nagar 86th Street?

The current guideline value of Ashok Nagar 86th 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, marking an overall increase of 355% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, and Ashok Nagar 86th Street's current value is above this median.

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

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 4,95,000 in fees.

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 Nolambur Eb Office.