Guideline Value for ASHTALAKSHMI JOINT STREET

Ashtalakshmi Joint Street guideline value

The current guideline value of Ashtalakshmi Joint Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification is Residential Class I Type - I.

How the guideline value of Ashtalakshmi Joint Street has changed

The guideline value for Ashtalakshmi Joint Street has seen several revisions over the years. In 2002, the value was Rs 352 per sq.ft, which increased to Rs 392 per sq.ft in 2003. The value then rose significantly to Rs 850 per sq.ft in 2007, followed by a substantial increase to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024.

Examining the changes between these revisions, from 2017 to 2023, there was a 49% increase. The value saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 253%, and from 2003 to 2007, it increased by 117%. The change from 2002 to 2003 was an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 838%. There are no revisions with figures missing for this street.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, placing Ashtalakshmi Joint Street's 2024 figure above this median.

• Ashtalakshmi Avenue Right Cross Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Astalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Astalakshmi Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• A V Garden: Rs 5,590 per sq.ft (2024)
• Arijana Mayana Salai: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakshmi Joint Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Ashtalakshmi Joint Street?

The Sub Registrar Office that covers Ashtalakshmi Joint Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

When buying or selling property in Manapakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is registered at a fair price, which helps in maintaining transparency in property transactions. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Joint Street?

The current guideline value of Ashtalakshmi Joint Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 838% over this period.

What is the land classification for Ashtalakshmi Joint Street?

The land classification for Ashtalakshmi Joint Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Ashtalakshmi Joint Street?

The Sub Registrar Office for Ashtalakshmi Joint Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Ashtalakshmi Joint Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.