Guideline Value for Ashok Nagar Colony Block 51

Ashok Nagar Colony Block 51 guideline value

The current guideline value for Ashok Nagar Colony Block 51 is Rs 11,000 per sq.ft, effective from 1 July 2024. This area falls under Kodambakkam village and is classified as Commercial Special Type - I, managed by the Ashok Nagar SRO.

How the guideline value of Ashok Nagar Colony Block 51 has changed

Over the years, the guideline value for Ashok Nagar Colony Block 51 has seen significant changes. The earliest recorded figure is from 2007, where it stood at Rs 3,020 per sq.ft. This increased to Rs 10,000 per sq.ft in 2012, marking a substantial rise of 231%. However, the value then decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The subsequent revisions saw the value increase to Rs 10,000 per sq.ft in 2023, followed by a further increase to Rs 11,000 per sq.ft in 2024, reflecting a 10% rise.

Notably, there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 264%, showcasing the fluctuations in property valuation in this area.

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, with a median value of Rs 4,900 per sq.ft. Ashok Nagar Colony Block 51's 2024 value is above this median, indicating its higher valuation compared to many other streets in the area.

• Ashok Nagar Colony 1st Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony Block 53: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony Block 89: Rs 11,000 per sq.ft (2024)
• Ashok Nagar 9th Street: Rs 4,900 per sq.ft (2024)
• Ashok Nagar 9th Avenue: Rs 9,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar Colony Block 51

For a property measuring 1,000 sq.ft at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty is charged at 7%, amounting to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000. Together, the total cost for stamp duty and registration fee would be Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ashok Nagar Colony Block 51?

The Ashok Nagar Colony Block 51 is covered by 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 specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is registered at a fair price as per government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Ashok Nagar Colony Block 51?

The current guideline value of Ashok Nagar Colony Block 51 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 changed significantly, from Rs 3,020 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Ashok Nagar Colony Block 51?

Ashok Nagar Colony Block 51 is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Ashok Nagar Colony Block 51 is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ashok Nagar Colony Block 51?

The Sub Registrar Office covering Ashok Nagar Colony Block 51 is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.