Guideline Value for Ashok Nagar 89th Street

Ashok Nagar 89th Street guideline value

The current guideline value of Ashok Nagar 89th Street is Rs 4,900 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 - II.

How the guideline value of Ashok Nagar 89th Street has changed

The guideline value for Ashok Nagar 89th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 3,015 per sq.ft in 2017, marking a 149% rise. The value continued to rise to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The register has no figures for the years 2002, 2003, and 2012.

As of the 2024 revision, the guideline value stands at Rs 4,900 per sq.ft, showing a 9% increase from the 2023 figure. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 305%.

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 value is Rs 4,900 per sq.ft, which aligns with the 2024 figure for Ashok Nagar 89th Street.

• Ashok Nagar 88th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 8th Avenue: Rs 8,800 per sq.ft (2024)
• Ashok Nagar 87th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 8th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 86th Street: Rs 5,500 per sq.ft (2024)
• Ashok Nagar 90th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar 89th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000. Together, the total cost for these fees would be Rs 4,41,000. 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 detailed calculations.

Which Sub Registrar Office covers Ashok Nagar 89th Street?

The Ashok Nagar 89th 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. 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 when registering property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the applicable taxes and fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Ashok Nagar 89th Street?

The current guideline value of Ashok Nagar 89th Street is Rs 4,900 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 4,900 per sq.ft in 2024, reflecting a total increase of 305% over the years.

What is the stamp duty for properties in Ashok Nagar 89th Street?

The stamp duty for properties in Ashok Nagar 89th Street is 7% of the guideline value or sale price, whichever is higher.

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.

What is the classification of land in Ashok Nagar 89th Street?

The land classification for Ashok Nagar 89th Street is Residential Class III Type - II.