Guideline Value for Ashtalakhmi Nagar

Ashtalakhmi Nagar guideline value

The current guideline value of Ashtalakhmi Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Ashtalakhmi Nagar has changed

Over the years, the guideline value for Ashtalakhmi Nagar has seen significant changes. The 2007 revision set the value at Rs 250 per sq.ft, which increased to Rs 900 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 603 per sq.ft. The 2023 revision raised it to Rs 900 per sq.ft, and the latest revision in 2024 has set the value at Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value rose by 49%. Overall, from 2007 to 2024, the guideline value has increased by 296%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mannivakkam

Mannivakkam village has 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,215 per sq.ft, placing Ashtalakhmi Nagar's 2024 figure below the median.

• As Avenue: Rs 330 per sq.ft (2024)
• Auditors Colony / Officers Garden: Rs 990 per sq.ft (2024)
• Anna Street: Rs 990 per sq.ft (2024)
• Andal Nagar: Rs 1,320 per sq.ft (2024)
• Amman Nagar: Rs 990 per sq.ft (2024)
• Ambethkar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakhmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashtalakhmi Nagar?

The Sub Registrar Office that covers Ashtalakhmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Mannivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for determining the sale price. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ashtalakhmi Nagar?

The current guideline value of Ashtalakhmi Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking an overall increase of 296% since 2007.

What are the other streets in Mannivakkam and their guideline values?

Other streets in Mannivakkam include As Avenue at Rs 330 per sq.ft, Auditors Colony / Officers Garden at Rs 990 per sq.ft, Anna Street at Rs 990 per sq.ft, Andal Nagar at Rs 1,320 per sq.ft, Amman Nagar at Rs 990 per sq.ft, and Ambethkar Street at Rs 770 per sq.ft.

What is the stamp duty rate for properties in Ashtalakhmi Nagar?

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

Where is the Sub Registrar Office for Ashtalakhmi Nagar located?

The Sub Registrar Office for Ashtalakhmi Nagar is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.