Guideline Value for Ashtalakshmi Nagar 1st Street

Ashtalakshmi Nagar 1st Street guideline value

The current guideline value of Ashtalakshmi Nagar 1st Street is Rs 4,290 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Ashtalakshmi Nagar 1st Street has changed

Ashtalakshmi Nagar 1st Street has seen several revisions in its guideline value over the years. The earliest available figure is from the 2012 revision, which was Rs 3,900 per sq.ft. This value decreased to Rs 2,613 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 3,900 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,290 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Ashtalakshmi Nagar 1st Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, placing Ashtalakshmi Nagar 1st Street's 2024 figure above the median.

• Ashtalakshmi Nagar 3rd Street: Rs 4,290 per sq.ft (2024)
• Ashtalakshmi Nagar 2nd Street: Rs 4,290 per sq.ft (2024)
• Arumugam Nagar: Rs 3,960 per sq.ft (2024)
• Arcot Road: Rs 4,950 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,860 per sq.ft (2024)
• Anna Salai (Highway): Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakshmi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,290 per sq.ft, the total guideline value would be Rs 42,90,000. The stamp duty at 7% would amount to Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, bringing the total cost together to Rs 3,86,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Ashtalakshmi Nagar 1st Street?

The Sub Registrar Office that covers Ashtalakshmi Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges that must be paid during the registration process. This ensures that the transaction is legally recognized and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar 1st Street?

The current guideline value of Ashtalakshmi Nagar 1st Street is Rs 4,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,900 per sq.ft in 2012 to Rs 2,613 per sq.ft in 2017, then increased to Rs 3,900 per sq.ft in 2023, and finally to Rs 4,290 per sq.ft in 2024.

What is the land classification of Ashtalakshmi Nagar 1st Street?

Ashtalakshmi Nagar 1st Street is classified as Mixed Special Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Ashtalakshmi Nagar 1st Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Ashtalakshmi Nagar 1st Street?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 42,90,000, the stamp duty at 7% would be Rs 3,00,300.