Guideline Value for Astalakshmi Avenue phase 1, 2, 3

Astalakshmi Avenue phase 1, 2, 3 guideline value

The current guideline value for Astalakshmi Avenue phase 1, 2, 3 is Rs 1,540 per sq.ft. This property is located in Chennerkuppam village, under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Astalakshmi Avenue phase 1, 2, 3 has changed

The guideline value for Astalakshmi Avenue phase 1, 2, 3 has undergone several revisions over the years. The 2012 revision set the value at Rs 1,400 per sq.ft, which was then reduced to Rs 938 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,400 per sq.ft in the 2023 revision and further rose to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the current guideline value for Astalakshmi Avenue phase 1, 2, 3.

• Ashtalakshmi Avenue Phase IV: Rs 4,105 per sq.ft (2024)
• Audco Nagar & phase1& phase 2: Rs 1,540 per sq.ft (2024)
• Avadi Road: Rs 4,620 per sq.ft (2024)
• Ayaan City: Rs 1,430 per sq.ft (2024)
• Ayaan City Phase-2: Rs 1,540 per sq.ft (2024)
• Arunachalam Nagar: Rs 1,815 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Avenue phase 1, 2, 3

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total cost for these fees Rs 1,38,600. 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 Astalakshmi Avenue phase 1, 2, 3?

The Sub Registrar Office that covers Astalakshmi Avenue phase 1, 2, 3 is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately with the local authorities.

When a property is sold, the guideline value helps in assessing the legal and financial implications of the sale. Buyers and sellers must be aware of the guideline value to understand their financial responsibilities during the registration process.

Frequently asked questions

What is the current guideline value of Astalakshmi Avenue phase 1, 2, 3?

The current guideline value of Astalakshmi Avenue phase 1, 2, 3 is Rs 1,540 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2023 to Rs 1,540 per sq.ft in 2024, which is a 10% increase. It was Rs 938 per sq.ft in 2017 and Rs 1,400 per sq.ft in 2012.

What is the land classification for Astalakshmi Avenue phase 1, 2, 3?

Astalakshmi Avenue phase 1, 2, 3 is classified as Residential Class I Type - II.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 15,40,000 would incur a stamp duty of Rs 1,07,800 at 7%.