Guideline Value for Ashtalakshmi Nagar : -

Ashtalakshmi Nagar : - guideline value

The current guideline value of Ashtalakshmi Nagar : - is Rs 3,850 per sq.ft, effective from 1 July 2024. This locality is part of Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Ashtalakshmi Nagar : - has changed

Over the years, the guideline value of Ashtalakshmi Nagar : - has seen several revisions. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, in 2017, it dropped to Rs 2,345 per sq.ft, before rising significantly to Rs 3,500 per sq.ft in 2023 and then to Rs 3,850 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. Notably, there was a substantial increase of 133% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Ashtalakshmi Nagar : - below this median.

• Ashtalakshmi Nagar 10th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 11th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 12th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 2nd street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 3rd street: Rs 3,850 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashtalakshmi Nagar : -?

The Sub Registrar Office that covers Ashtalakshmi Nagar : - is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Velachery. It determines 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 serves as a reference point for both parties. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the applicable fees and duties.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar : -?

The current guideline value of Ashtalakshmi Nagar : - is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 157%.

What is the land classification of Ashtalakshmi Nagar : -?

Ashtalakshmi Nagar : - is classified as Residential Class II Type - III.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Ashtalakshmi Nagar : -, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Ashtalakshmi Nagar : -?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.