Guideline Value for ASHTALAKSHMI NAGAR

Ashtalakshmi Nagar guideline value

The current guideline value of Ashtalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Sivapuram village and falls under the jurisdiction of the Sunguvarchattram SRO. The land classification for this region is Residential Class IV Type - I.

How the guideline value of Ashtalakshmi Nagar has changed

Over the years, the guideline value for Ashtalakshmi Nagar has seen revisions. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 100 per sq.ft, which remained unchanged in the 2024 revision, also at Rs 100 per sq.ft. The change from 2023 to 2024 reflects a 0% increase.

Since there are no figures available for the earlier revisions, we only have the values from 2023 and 2024 to consider. This consistency in the guideline value indicates stability in the pricing for this locality over the recent years.

Guideline values in Sivapuram

Ashtalakshmi Nagar is part of the Sivapuram village, which includes various other streets under the Sunguvarchattram SRO. The guideline value for Ashtalakshmi Nagar is currently Rs 100 per sq.ft, placing it in the context of other streets in the area.

• Jeevarathanam Nagar: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would amount to Rs 1,00,000. The stamp duty, calculated at 7%, would be Rs 7,000, while the registration fee at 2% would be Rs 2,000. Therefore, the total cost for these fees would be Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ashtalakshmi Nagar?

The Sub Registrar Office that covers Ashtalakshmi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information on finding your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Sivapuram, 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 applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value serves as a reference point for both buyers and sellers during negotiations. It helps in establishing a fair price for the property based on government assessments, which can be beneficial for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar?

The current guideline value of Ashtalakshmi Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ashtalakshmi Nagar has remained at Rs 100 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the stamp duty rate for property in Ashtalakshmi Nagar?

The stamp duty rate for property in Ashtalakshmi Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ashtalakshmi Nagar located?

The Sub Registrar Office for Ashtalakshmi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property, which in turn affects the stamp duty and registration fees. It serves as a reference for buyers and sellers during property transactions.