Guideline Value for Astalakshmi Nagar 4th Street

Astalakshmi Nagar 4th Street guideline value

The current guideline value of Astalakshmi Nagar 4th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar 4th Street has changed

The guideline value for Astalakshmi Nagar 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 398 per sq.ft. This increased to Rs 500 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. In 2012, the value saw a significant jump to Rs 3,500 per sq.ft, but then decreased to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023 and has now risen to Rs 3,850 per sq.ft in the 2024 revision.

Between the revisions, the changes are noteworthy. From 2002 to 2003, there was an increase of 26%. The value rose by 20% from 2003 to 2007. The jump from 2007 to 2012 was substantial at 483%. However, from 2012 to 2017, the value decreased by 33%. The increase from 2017 to 2023 was 49%, and the latest change from 2023 to 2024 is a rise of 10%. Overall, from 2002 to 2024, the guideline value has increased by 867%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Astalakshmi Nagar 4th Street is above this median.

• Astalakshmi Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 3rd Main Road: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to 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, bringing the total fees together to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Nagar 4th Street?

The Sub Registrar Office covering Astalakshmi Nagar 4th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Maduravoyal. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction. It helps in assessing the appropriate fees and taxes that are applicable, ensuring that both parties are aware of their financial obligations at the time of registration.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 4th Street?

The current guideline value of Astalakshmi Nagar 4th 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 398 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting several revisions over the years.

What is the land classification for Astalakshmi Nagar 4th Street?

The land classification for Astalakshmi Nagar 4th Street is Residential Class I Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Astalakshmi Nagar 4th Street located?

The Sub Registrar Office for Astalakshmi Nagar 4th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.