Guideline Value for Kodambakkam Block 54

Kodambakkam Block 54 guideline value

The current guideline value of Kodambakkam Block 54 is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this block is Commercial Special Type - II.

How the guideline value of Kodambakkam Block 54 has changed

The guideline value for Kodambakkam Block 54 has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,200 per sq.ft, which reflects a 9% increase from the 2023 revision of Rs 7,500 per sq.ft. Prior to that, the guideline value remained unchanged at Rs 7,500 per sq.ft from the 2012 revision. The 2007 revision recorded a significant increase to Rs 1,210 per sq.ft, marking a 520% rise from the previous revision.

It is important to note that there are no figures available for the years 2017, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 578%.

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. The guideline value for Kodambakkam Block 54 is above this median.

• Kodambakkam New Colony: Rs 8,200 per sq.ft (2024)
• Kodambakkam Pudur Block 10: Rs 8,200 per sq.ft (2024)
• Kodambakkam Pudur Salai Block 56: Rs 8,200 per sq.ft (2024)
• Kodambakkam Road: Rs 8,200 per sq.ft (2024)
• Kodambakkam Road Block 64(Mettupalayam): Rs 8,200 per sq.ft (2024)
• Kodambakkam Road West Block 64: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kodambakkam Block 54

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000, bringing the total cost to Rs 7,38,000. It is important to note that 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 Kodambakkam Block 54?

Kodambakkam Block 54 is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Kodambakkam Block 54?

The current guideline value for Kodambakkam Block 54 is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly from Rs 1,210 per sq.ft to Rs 8,200 per sq.ft in 2024, marking an overall increase of 578%. The most recent revision saw a 9% rise from Rs 7,500 per sq.ft in 2023.

What is the land classification for Kodambakkam Block 54?

The land classification for Kodambakkam Block 54 is Commercial Special Type - II, indicating its designated use for commercial activities.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the higher amount between the guideline value and the sale price. The registration fee is charged at 2% of the same amount, which can significantly impact the total cost of a property transaction.

Where can I find the Sub Registrar Office for Kodambakkam Block 54?

The Ashok Nagar Sub Registrar Office covers Kodambakkam Block 54 and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all registration activities for properties in this area.