Guideline Value for Ashthalakshmi Nagar

Ashthalakshmi Nagar guideline value

The current guideline value of Ashthalakshmi Nagar is Rs 800 per sq.ft, effective from 1 July 2024. This area is located in Kavanur village and falls under the Gooduvancheri SRO, classified as Residential Special Type - III.

How the guideline value of Ashthalakshmi Nagar has changed

Looking at the historical revisions, the guideline value for Ashthalakshmi Nagar has seen several changes over the years. The 2007 revision recorded a value of Rs 225 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, it dropped to Rs 536 per sq.ft in 2017, before rising again to Rs 800 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The substantial rise from 2007 to 2012 was 256%. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Kavanur

Kavanur village has a total of 109 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value is Rs 800 per sq.ft, which aligns with the current value for Ashthalakshmi Nagar. Below are the guideline values for other streets in Kavanur:

• Ask Enclave: Rs 600 per sq.ft (2024)
• Ask Enclave Phase -I: Rs 800 per sq.ft (2024)
• A.L.N. Layout: Rs 600 per sq.ft (2024)
• BSNL Avenue: Rs 600 per sq.ft (2024)
• CEE.PAA.Athithanar Nagar: Rs 600 per sq.ft (2024)
• Agastheeswarar Nagar: Rs 804 per sq.ft (2024)

Stamp duty and registration fee for property in Ashthalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Ashthalakshmi Nagar?

The Sub Registrar Office that covers Ashthalakshmi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kavanur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This amount is essential for both buyers and sellers to understand, as it directly impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Ashthalakshmi Nagar?

The current guideline value of Ashthalakshmi Nagar is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with significant increases and decreases. For instance, it rose from Rs 225 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then dropped to Rs 536 per sq.ft in 2017, and returned to Rs 800 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for Ashthalakshmi Nagar?

For a 1,000 sq.ft plot valued at Rs 800 per sq.ft, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Which office handles property registrations in Ashthalakshmi Nagar?

The Gooduvancheri Sub Registrar Office is responsible for property registrations in Ashthalakshmi Nagar. It is located on Defence Colony Road, near the Veterinary Hospital in Nanthivaram, Guduvancheri.

What is the land classification of Ashthalakshmi Nagar?

Ashthalakshmi Nagar is classified as Residential Special Type - III, indicating its designated use for residential purposes.