Guideline Value for Ashok Nagar

Ashok Nagar guideline value

The current guideline value of Ashok Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 880 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ashok Nagar has changed

The guideline value for Ashok Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 800 per sq.ft. This figure remained the same until the next revision in 2017, when it dropped to Rs 536 per sq.ft. The 2023 revision increased the value to Rs 800 per sq.ft, and the most recent revision in 2024 raised it further to Rs 880 per sq.ft. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The value then rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Kovilpathagai

Kovilpathagai village has 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for the area is Rs 870 per sq.ft, placing Ashok Nagar's 2024 figure above this median.

• Ashok Nagar Extn: Rs 990 per sq.ft (2024)
• Ashok Nagar Main Road: Rs 880 per sq.ft (2024)
• Anthony Street: Rs 880 per sq.ft (2024)
• Anna Street (Natham): Rs 806 per sq.ft (2024)
• Bajanai Koil Street(Kannada palayam): Rs 807 per sq.ft (2024)
• Balaji Nagar: Rs 805 per sq.ft (2024)

Stamp duty and registration fee for property in Ashok Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, making the total fees together Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashok Nagar?

The Ashok Nagar area falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the transaction is recorded accurately and legally, reflecting the property's value as recognized by the government.

Frequently asked questions

What is the current guideline value of Ashok Nagar?

The current guideline value of Ashok Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Ashok Nagar?

Ashok Nagar is classified as Residential Class II Type - I.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for property in Ashok Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the stamp duty would be Rs 61,600.