Guideline Value for Shopping Center (15th Avenue)

Shopping Center (15th Avenue) guideline value

The current guideline value of Shopping Center (15th Avenue) is Rs 11,000 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Commercial Special Type - I.

How the guideline value of Shopping Center (15th Avenue) has changed

The guideline value for Shopping Center (15th Avenue) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 4,100 per sq.ft. This increased significantly to Rs 10,000 per sq.ft in 2012, showing a change of 144%. The value remained unchanged at Rs 10,000 per sq.ft in 2023, before rising to Rs 11,000 per sq.ft in the 2024 revision, marking a 10% increase.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 168%.

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 as of 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing the guideline value of Shopping Center (15th Avenue) above this median.

• Silapathikaran Street: Rs 3,300 per sq.ft (2024)
• Sivaganammal Street: Rs 3,300 per sq.ft (2024)
• Sivaguru Street: Rs 4,100 per sq.ft (2024)
• Sivalingam Salai: Rs 4,100 per sq.ft (2024)
• Sivanandam Salai: Rs 4,900 per sq.ft (2024)
• Sivanandam Street Block 78: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shopping Center (15th Avenue)

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 duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Shopping Center (15th Avenue)?

The Shopping Center (15th Avenue) falls under the jurisdiction of the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Shopping Center (15th Avenue)?

The current guideline value of Shopping Center (15th Avenue) 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 from Rs 4,100 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 168%.

What is the registration office for Shopping Center (15th Avenue)?

The registration office for Shopping Center (15th Avenue) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be calculated at 7% of this amount.

What are the guideline values for other streets in Kodambakkam?

Guideline values for other streets in Kodambakkam vary, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. For example, Silapathikaran Street and Sivaganammal Street both have a guideline value of Rs 3,300 per sq.ft as of 2024.