Guideline Value for Ashtalaxmi Nagar

Ashtalaxmi Nagar guideline value

The current guideline value of Ashtalaxmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ashtalaxmi Nagar has changed

The guideline value for Ashtalaxmi Nagar has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a drop of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Ashtalaxmi Nagar is below this median.

• Arunagirinathar Street: Rs 2,970 per sq.ft (2024)
• Avvai Street: Rs 1,980 per sq.ft (2024)
• Arunachala Nagar: Rs 1,650 per sq.ft (2024)
• Azagiri Nagar: Rs 2,640 per sq.ft (2024)
• Appar Street Extension: Rs 2,310 per sq.ft (2024)
• Appar Street: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Ashtalaxmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ashtalaxmi Nagar?

The Sub Registrar Office that covers Ashtalaxmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Ashtalaxmi Nagar?

The current guideline value of Ashtalaxmi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 890% over the years.

What is the land classification for Ashtalaxmi Nagar?

Ashtalaxmi Nagar is classified as Residential Class III Type - I.

What is the registration office for Ashtalaxmi Nagar?

The registration office for Ashtalaxmi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ashtalaxmi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 19,80,000.