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Guideline Value

Corporate

Guideline Value for Ashtalakshmi Nagar 2nd Street

₹4400/sq.ft.

The guideline value for Ashtalakshmi Nagar 2nd Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class I Type - II
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Ashtalakshmi Nagar 2nd Street

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Ashtalakshmi Nagar 2nd Street guideline value

The current guideline value of Ashtalakshmi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO and is classified as Residential Class I Type - II.

How the guideline value of Ashtalakshmi Nagar 2nd Street has changed

The guideline value for Ashtalakshmi Nagar 2nd Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,680 per sq.ft, which then increased to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 raised the value further to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Ashtalakshmi Nagar 2nd Street above this median.

Stamp duty and registration fee for property in Ashtalakshmi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% amounts to Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashtalakshmi Nagar 2nd Street?

The Sub Registrar Office that covers Ashtalakshmi Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar 2nd Street?

The current guideline value of Ashtalakshmi Nagar 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 2,680 per sq.ft to Rs 4,400 per sq.ft in 2024. The most recent change from 2023 to 2024 was a 10% increase.

What is the land classification of Ashtalakshmi Nagar 2nd Street?

Ashtalakshmi Nagar 2nd Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office covering Ashtalakshmi Nagar 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property transactions?

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 44,00,000 would incur a stamp duty of Rs 3,08,000 at the rate of 7%.