Guideline Value for ASHTALAKSHMI NAGAR EXTENSION - III

Ashtalakshmi Nagar Extension - III guideline value

The current guideline value of Ashtalakshmi Nagar Extension - III is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Ashtalakshmi Nagar Extension - III has changed

The guideline value for Ashtalakshmi Nagar Extension - III has undergone several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft. This figure remained unchanged until the next revision in 2017, when it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, representing a 49% rise. The most recent revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, making the current value of Rs 1,980 per sq.ft for Ashtalakshmi Nagar Extension - III above the median.

• Ashok Nandavanam: Rs 1,980 per sq.ft (2024)
• Astalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Astalakshmi Nagar Extn I and II: Rs 1,650 per sq.ft (2024)
• Athivaradar Avenue: Rs 3,700 per sq.ft (2024)
• Athivaradar Avenue Extension: Rs 3,700 per sq.ft (2024)
• Arunachalam Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakshmi Nagar Extension - III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is essential to note that 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 Ashtalakshmi Nagar Extension - III?

The Sub Registrar Office covering Ashtalakshmi Nagar Extension - III is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. 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 buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar Extension - III?

The current guideline value of Ashtalakshmi Nagar Extension - III is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Ashtalakshmi Nagar Extension - III?

The land classification for Ashtalakshmi Nagar Extension - III is Residential Special Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ashtalakshmi Nagar Extension - III is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at 7%.