Guideline Value for Ashtalakshmi Nagar 3rd Street

Ashtalakshmi Nagar 3rd Street guideline value

The current guideline value of Ashtalakshmi Nagar 3rd 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 3rd Street has changed

In the 2012 revision, the guideline value was Rs 3,900 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 2,613 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 3,900 per sq.ft in the 2023 revision, and further rose to the current value of Rs 4,290 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase. The current rate of Rs 4,290 per sq.ft is a notable rise from the earlier figures, indicating a shift in the valuation of properties in this area.

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 value is Rs 3,960 per sq.ft, placing Ashtalakshmi Nagar 3rd Street above this median.

• Ashtalakshmi Nagar 1st Street: Rs 4,290 per sq.ft (2024)
• Asthtalakshmi 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 3rd Street

For a 1,000 sq.ft plot at the current rate of Rs 4,290 per sq.ft, the guideline value amounts to Rs 42,90,000. The stamp duty at 7% would be Rs 3,00,300, and the registration fee at 2% would be Rs 85,800, bringing the total to Rs 3,86,100. 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 details.

Which Sub Registrar Office covers Ashtalakshmi Nagar 3rd Street?

The Sub Registrar Office that covers Ashtalakshmi Nagar 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Porur, as it determines the minimum value at which a property can be registered. When buying or selling property, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

This system helps ensure transparency and consistency in property transactions, as the guideline value is periodically revised to reflect changes in the real estate market. Buyers and sellers should be aware of these values when engaging in property transactions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Ashtalakshmi Nagar 3rd Street?

The current guideline value of Ashtalakshmi Nagar 3rd 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 back 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 for Ashtalakshmi Nagar 3rd Street?

Ashtalakshmi Nagar 3rd Street is classified as Mixed Special Type - II.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Ashtalakshmi Nagar 3rd Street?

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