Guideline Value for Astalakshmi Nagar 5th Street

Astalakshmi Nagar 5th Street guideline value

The current guideline value of Astalakshmi Nagar 5th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar 5th Street has changed

The guideline value for Astalakshmi Nagar 5th 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 dropped to Rs 2,345 per sq.ft in 2017. The value was Rs 3,500 per sq.ft again in 2023, and it has now increased to Rs 3,850 per sq.ft in the 2024 revision.

Between the revisions, there have been notable changes. From 2002 to 2003, the value increased by 26%, and from 2003 to 2007, it rose by 20%. The jump from 2007 to 2012 was a remarkable 483%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. 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 5th Street is above this median.

• Astalakshmi Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 6th Street: 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)
• Astalakshmi Nagar 9th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for stamp duty and registration fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Nagar 5th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 5th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is documented at a fair value, which is crucial for both the buyer and the seller. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 5th Street?

The current guideline value of Astalakshmi Nagar 5th 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 seen significant changes, with the most recent revision in 2024 showing an increase from Rs 3,500 per sq.ft in 2023. Overall, the guideline value has increased by 867% from 2002 to 2024.

What are the stamp duty and registration fees for property in Astalakshmi Nagar 5th Street?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 3,46,500 for stamp duty and registration fees.

Which Sub Registrar Office covers Astalakshmi Nagar 5th Street?

The Virugambakkam Sub Registrar Office covers Astalakshmi Nagar 5th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark to ensure that the property is registered at a fair value, which is crucial for both buyers and sellers.