Guideline Value for Ashok Nagar Colony Block 89

Ashok Nagar Colony Block 89 guideline value

The current guideline value for Ashok Nagar Colony Block 89 is Rs 11,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Commercial Special Type - I.

How the guideline value of Ashok Nagar Colony Block 89 has changed

Over the years, the guideline value for Ashok Nagar Colony Block 89 has seen significant changes. In 2007, the value was Rs 3,020 per sq.ft, which increased to Rs 10,000 per sq.ft by 2012, marking a rise of 231%. However, this value dropped to Rs 6,700 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 10,000 per sq.ft, and the latest revision in 2024 has set it at Rs 11,000 per sq.ft, an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 264%, showcasing the fluctuations in property valuation over the years. The 2017 to 2023 period saw a substantial increase of 49%, highlighting the changes in the local real estate landscape.

Guideline values in Kodambakkam

Kodambakkam has a total of 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 for these streets is Rs 4,900 per sq.ft, placing Ashok Nagar Colony Block 89's 2024 figure above this median.

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

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 to 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. You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Ashok Nagar Colony Block 89?

The Ashok Nagar Colony Block 89 falls under the jurisdiction of 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring transparency in the transaction process.

When registering a property, buyers and sellers must consider the guideline value as it influences the overall costs involved in the transaction. This ensures that both parties are aware of the legal and financial implications associated with the sale or purchase of property in the area.

Frequently asked questions

What is the current guideline value for Ashok Nagar Colony Block 89?

The current guideline value for Ashok Nagar Colony Block 89 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, representing an overall increase of 264% over the years.

What are the other guideline values in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with some streets like Ashok Nagar Colony Block 53 and Block 51 also at Rs 11,000 per sq.ft as of 2024.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value.

Which office handles the registration of properties in Ashok Nagar Colony Block 89?

The Ashok Nagar Sub Registrar Office handles the registration of properties in Ashok Nagar Colony Block 89, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.