Guideline Value for Ashtalakshmi Nagar 5th street

Ashtalakshmi Nagar 5th street guideline value

The current guideline value of Ashtalakshmi Nagar 5th 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 5th street has changed

The guideline value for Ashtalakshmi Nagar 5th street has seen several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 133% rise. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33%. By 2023, the value had risen to Rs 3,500 per sq.ft, and with the latest revision in 2024, it stands at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 157%. The register has no figure for this street in 2002 and 2003.

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. The median value across these streets is Rs 4,400 per sq.ft, placing Ashtalakshmi Nagar 5th street's 2024 figure below that median.

• Ashtalakshmi Nagar 4th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 6th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 7th Cross Street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 3rd street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 7th street: Rs 3,850 per sq.ft (2024)
• Ashtalakshmi Nagar 8th street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalakshmi Nagar 5th street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. Please 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 detailed calculations.

Which Sub Registrar Office covers Ashtalakshmi Nagar 5th street?

The Sub Registrar Office that covers Ashtalakshmi Nagar 5th 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 is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. It is important for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value for Ashtalakshmi Nagar 5th street?

The current guideline value for Ashtalakshmi Nagar 5th 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 changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Ashtalakshmi Nagar 5th street?

Ashtalakshmi Nagar 5th street is classified as Residential Class II Type - III.

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

The Sub Registrar Office for Ashtalakshmi Nagar 5th street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Velachery?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees can be calculated accordingly.