Guideline Value for Asta Lakshmi Nagar

Asta Lakshmi Nagar guideline value

The current guideline value of Asta Lakshmi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Asta Lakshmi Nagar has changed

The guideline value of Asta Lakshmi Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then dropped to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023, before reaching the current rate of Rs 1,600 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The latest revision from 2023 to 2024 shows an increase of 7%. Overall, from 2007 to 2024, the guideline value has increased by 433%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Asta Lakshmi Nagar's 2024 figure below this median.

• Bajanai Koil P.T.C. Colony 1st Street: Rs 1,400 per sq.ft (2024)
• Arulmozhi Nagar Pirathana Salai: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 2nd Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 3rd Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 4th Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Asta Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to 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 details.

Which Sub Registrar Office covers Asta Lakshmi Nagar?

The Sub Registrar Office that covers Asta Lakshmi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gowrivakkam. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the higher of the guideline value or the sale price of the property.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions as assessed by the Registration Department. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Asta Lakshmi Nagar?

The current guideline value of Asta Lakshmi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, with several fluctuations in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the land classification of Asta Lakshmi Nagar?

Asta Lakshmi Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What is the median guideline value in Gowrivakkam?

The median guideline value for the 130 streets in Gowrivakkam is Rs 2,200 per sq.ft, with Asta Lakshmi Nagar's current value being below this median.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.