Guideline Value for ASTALAKSHMI KOVIL STREET

Astalakshmi Kovil Street guideline value

The current guideline value of Astalakshmi Kovil Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Astalakshmi Kovil Street has changed

The guideline value for Astalakshmi Kovil Street has seen several revisions over the years. In 2002, the value was Rs 938 per sq.ft, which increased to Rs 1,038 per sq.ft in 2003, marking an increase of 11%. From 2003 to 2007, there was a significant rise of 189%, bringing the value to Rs 3,000 per sq.ft. The value then increased by 117% to Rs 6,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 4,355 per sq.ft. The value rose again to Rs 6,500 per sq.ft in 2023, and finally increased by 10% to the current value of Rs 7,150 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 662%. The register has no figures for the years not listed in the revisions.

Guideline values in Thiruvanmiyur

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

• Astalakshmi Garden: Rs 8,250 per sq.ft (2024)
• Astalakshmi Avenue: Rs 8,250 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 Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 7,150 per sq.ft, the guideline value would be Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, making the total Rs 6,43,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Astalakshmi Kovil Street?

The Sub Registrar Office that covers Astalakshmi Kovil 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these costs, ensuring compliance with the local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Astalakshmi Kovil Street?

The current guideline value of Astalakshmi Kovil Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, representing a total increase of 662% over the years.

What is the land classification of Astalakshmi Kovil Street?

Astalakshmi Kovil Street is classified as Residential Class IV Type - I.

Which office handles the registration for Astalakshmi Kovil Street?

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

How is stamp duty calculated for property in Astalakshmi Kovil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 71,50,000 would incur a stamp duty of Rs 5,00,500 at 7%.