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Guideline Value

Corporate

Guideline Value for Ashok Nagar Colony 1st Avenue

₹11000/sq.ft.

The guideline value for Ashok Nagar Colony 1st Avenue in Kodambakkam village (Ashok Nagar SRO, Chennai zone) is Rs 11000 per sq.ft, effective 1 July 2024. It was Rs 10000 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodambakkam

Village

Ashok Nagar

SRO

Commercial Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹11000 /sq.ft.
From 1-4-2023 ₹10000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6700 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹10000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹4220 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561082
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ashok Nagar Colony 1st Avenue

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Ashok Nagar Colony 1st Avenue guideline value

The current guideline value of Ashok Nagar Colony 1st Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Commercial Special Type - I.

How the guideline value of Ashok Nagar Colony 1st Avenue has changed

Over the years, the guideline value for Ashok Nagar Colony 1st Avenue has seen significant changes. The 2007 revision set the value at Rs 4,220 per sq.ft, which increased to Rs 10,000 per sq.ft in the 2012 revision, marking a rise of 137%. However, the value dropped to Rs 6,700 per sq.ft in the 2017 revision, a decrease of 33%. From 2017 to 2023, the guideline value surged to Rs 10,000 per sq.ft, reflecting a substantial increase of 49%. The most recent revision in 2024 has further raised the value to Rs 11,000 per sq.ft, a 10% increase from 2023.

The register does not provide figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 161%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar Colony 1st Avenue above this median.

Stamp duty and registration fee for property in Ashok Nagar Colony 1st Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar Colony 1st Avenue?

The Ashok Nagar Colony 1st Avenue 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 plays a crucial role in the registration process when buying or selling property 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 revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ashok Nagar Colony 1st Avenue?

The current guideline value of Ashok Nagar Colony 1st Avenue is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 4,220 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 161%.

What is the stamp duty rate for properties in Ashok Nagar Colony 1st Avenue?

The stamp duty for properties in Ashok Nagar Colony 1st Avenue is charged at a rate of 7% on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Ashok Nagar Colony 1st Avenue?

The Ashok Nagar Sub Registrar Office covers Ashok Nagar Colony 1st Avenue and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value is used as a benchmark for property registration, ensuring that transactions are recorded at a fair value for the calculation of stamp duty and registration fees.