Guideline Value for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road)

Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road) guideline value

The current guideline value for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO with a land classification of Commercial Special Type - I.

How the guideline value of Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road) has changed

The guideline value for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road has seen significant changes over the years. In the 2007 revision, the value was set at Rs 4,220 per sq.ft, which then increased to Rs 6,700 per sq.ft in the 2017 revision, marking a 59% rise. The 2023 revision saw a further increase to Rs 10,000 per sq.ft, which was a 49% jump from the previous revision. The most recent 2024 revision has set the value at Rs 11,000 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 161%.

Guideline values in Kodambakkam

Kodambakkam village 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 guideline value in this area is Rs 4,900 per sq.ft, placing the 2024 figure for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road above the median.

• Inner Ring Road (In-circle Road): Rs 11,000 per sq.ft (2024)
• Jafferkhanpet Street Block 76,84: Rs 5,500 per sq.ft (2024)
• Jafferkhanpettai Road Block 84: Rs 5,500 per sq.ft (2024)
• Indira Gandhi Street (S.M.Block): Rs 4,100 per sq.ft (2024)
• Jaibalaji Nagar: Rs 4,100 per sq.ft (2024)
• Jaibalaji Nagar 180-250 Extension: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road)

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

Which Sub Registrar Office covers Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road?

The Sub Registrar Office that covers Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road is 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 is a crucial factor during the registration of property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling a property. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, the guideline value helps in ensuring that the transaction is recorded at a fair value as per the government regulations. This process is essential for maintaining transparency and legality in property transactions.

Frequently asked questions

What is the current guideline value for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road?

The current guideline value for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road 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 4,220 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 161% over the years.

What is the land classification for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road?

The land classification for Inner Ring Road (Jawaharlal Nehru) Road 100 Feet Road is Commercial Special Type - I.

Where is the Ashok Nagar Sub Registrar Office located?

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

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000 at 7%.