Guideline Value for Ashtalakshmi Nagar 3rd street

Ashtalakshmi Nagar 3rd street guideline value

The current guideline value of Ashtalakshmi Nagar 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ashtalakshmi Nagar 3rd street has changed

The guideline value for Ashtalakshmi Nagar 3rd street has seen several revisions over the years. The 2024 revision sets the value at Rs 3,850 per sq.ft, which is an increase from Rs 3,500 per sq.ft in the 2023 revision, marking a 10% rise. The value in 2017 was Rs 2,345 per sq.ft, showing a significant increase of 49% from then to 2023. The 2012 revision also had a value of Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 figure. The 2007 revision set the value at Rs 1,500 per sq.ft, reflecting a substantial increase of 133% to the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by 157%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Ashtalakshmi Nagar 3rd street is below this median.

• Ashtalakshmi Nagar 2nd street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 4th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 5th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 6th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 12th street: Rs 3,850 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 guideline value of Rs 3,850 per sq.ft, the total guideline value would be 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 and the sale price. You can use our 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 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 plays a crucial role in the registration process of property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in maintaining transparency in property transactions and ensures compliance with government regulations.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations in Ashtalakshmi Nagar 3rd street?

The Velacheri Sub Registrar Office handles property registrations for Ashtalakshmi Nagar 3rd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Ashtalakshmi Nagar 3rd street?

Ashtalakshmi Nagar 3rd street is classified as Residential Class II Type - III according to the guideline value register.