Guideline Value for Ashok Nagar Colony Block 53

Ashok Nagar Colony Block 53 guideline value

The current guideline value for Ashok Nagar Colony Block 53 is Rs 11,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village under the Ashok Nagar SRO, classified as Commercial Special Type - I.

How the guideline value of Ashok Nagar Colony Block 53 has changed

The guideline value for Ashok Nagar Colony Block 53 has undergone several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 3,020 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in 2012, marking a 231% rise. However, the value then dropped to Rs 6,700 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw a substantial increase to Rs 10,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 11,000 per sq.ft, reflecting a 10% increase from the previous year. Notably, the register has no 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 264%. The changes between the various revisions illustrate the fluctuations in guideline values over the years, with the most significant increase occurring between 2017 and 2023, where the value jumped by 49%.

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 53's 2024 guideline value of Rs 11,000 per sq.ft is above this median.

• Ashok Nagar Colony Block 51: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony Block 89: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony 1st Avenue: Rs 11,000 per sq.ft (2024)
• Ashok Nagar Colony: 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 53

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, making the total cost for these fees Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or 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 53?

The Ashok Nagar Colony Block 53 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. 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 property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. The guideline value is set by the government and is revised periodically to reflect changes in the market.

When registering a property, buyers must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, aligning with the current market conditions.

Frequently asked questions

What is the current guideline value for Ashok Nagar Colony Block 53?

The current guideline value for Ashok Nagar Colony Block 53 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, marking an overall increase of 264%.

What is the land classification for Ashok Nagar Colony Block 53?

Ashok Nagar Colony Block 53 is classified as Commercial Special Type - I, indicating its commercial usage potential.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Ashok Nagar Colony is set 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 53?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.