Guideline Value for South Side 60 Feet Road

South Side 60 Feet Road guideline value

The current guideline value of South Side 60 Feet Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This road is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of South Side 60 Feet Road has changed

Over the years, the guideline value of South Side 60 Feet Road has seen significant changes. In 2007, the guideline value was Rs 1,210 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. This marked a substantial rise of 272%. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a drop of 33%. From 2017 to 2023, the value surged to Rs 4,500 per sq.ft, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, a rise of 9% from the previous year.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is the same as the current value for South Side 60 Feet Road.

• South Side Ganga Nagar: Rs 6,000 per sq.ft (2024)
• Sowbakya Colony: Rs 7,700 per sq.ft (2024)
• Sowbhakiya Colony S.No. 394/2: Rs 7,700 per sq.ft (2024)
• Soundara Pandian Salai: Rs 8,800 per sq.ft (2024)
• Somasundar Bharathy Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Somasundar Bharathy Nagar 4th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in South Side 60 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers South Side 60 Feet Road?

The South Side 60 Feet Road 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 information.

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, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value helps in establishing a fair price for the property, preventing undervaluation. It is essential for buyers and sellers to be familiar with the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of South Side 60 Feet Road?

The current guideline value of South Side 60 Feet Road is Rs 4,900 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 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 305% over the years.

What is the land classification for South Side 60 Feet Road?

The land classification for South Side 60 Feet Road is Residential Class III Type - II.

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 the stamp duty calculated for property in South Side 60 Feet Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000.