Guideline Value for ASTALAKSHMI AVENUE

Astalakshmi Avenue guideline value

The current guideline value of Astalakshmi Avenue, located in Manapakkam village under the Chennai South Joint I SRO, is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Astalakshmi Avenue has changed

The guideline value for Astalakshmi Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 352 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking an 11% rise. Subsequently, in 2007, the value surged to Rs 850 per sq.ft, reflecting a substantial increase of 117%. The value then rose dramatically to Rs 3,000 per sq.ft in 2012, a 253% increase from 2007. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a drop of 33%. From 2017 to 2023, the guideline value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise, and finally, it reached Rs 3,300 per sq.ft in 2024, a 10% increase from the previous year.

There are no figures available for the years that do not have a register entry for this street. Overall, from 2002 to 2024, the guideline value has increased by 838%.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft, with a median value of Rs 2,530 per sq.ft. Astalakshmi Avenue's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Astalakshmi Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Joint Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue Right Cross Street: Rs 3,300 per sq.ft (2024)
• Ashtalakshmi Avenue 2nd 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 Astalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total fees to 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Avenue?

The Sub Registrar Office that covers Astalakshmi Avenue 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Astalakshmi Avenue?

The current guideline value of Astalakshmi Avenue is Rs 3,300 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly 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 Astalakshmi Avenue?

Astalakshmi Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Astalakshmi Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Astalakshmi Avenue?

The Chennai South Joint I Sub Registrar Office handles property registrations for Astalakshmi Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.