Guideline Value for ASTALAKSHMI AVENUE

Astalakshmi Avenue guideline value

The current guideline value of Astalakshmi Avenue is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Astalakshmi Avenue has changed

The guideline value for Astalakshmi Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 8,250 per sq.ft, an increase of 10% from the 2023 revision of Rs 7,500 per sq.ft. Prior to that, in 2017, the value was Rs 5,025 per sq.ft, marking a significant increase of 49% to 2023. The 2012 revision also recorded a value of Rs 7,500 per sq.ft, which was a decrease of 33% from 2017.

There are no registered figures for the years 2002, 2003, and 2007 for Astalakshmi Avenue. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. Astalakshmi Avenue's 2024 guideline value is below this median.

• Astalakshmi Garden: Rs 8,250 per sq.ft (2024)
• Astalakshmi Kovil Street: Rs 7,150 per sq.ft (2024)
• Avvai Nagar: Rs 7,150 per sq.ft (2024)
• Avvai Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Avvai Nagar (Pandian Street): Rs 7,150 per sq.ft (2024)
• Arundale 3rd Street: Rs 11,000 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 8,250 per sq.ft, the total guideline value would be Rs 82,50,000. The stamp duty at 7% would amount to Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to Rs 7,42,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use our 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 Thiruvanmiyur

The guideline value is a crucial factor when registering property in Thiruvanmiyur. It determines the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Astalakshmi Avenue?

The current guideline value of Astalakshmi Avenue is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 8,250 per sq.ft in 2024, reflecting a 10% increase overall. The most significant change occurred between 2017 and 2023, where it increased by 49%.

What is the land classification for Astalakshmi Avenue?

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

What are the stamp duty and registration fees for property here?

For a property valued at Rs 82,50,000, the stamp duty would be Rs 5,77,500, and the registration fee would be Rs 1,65,000, totaling Rs 7,42,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Astalakshmi Avenue?

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