Guideline Value for Astalakshmi Nagar 6th Street

Astalakshmi Nagar 6th Street guideline value

The current guideline value of Astalakshmi Nagar 6th 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 6th Street has changed

The guideline value for Astalakshmi Nagar 6th Street has undergone several revisions over the years. The earliest recorded value was Rs 398 per sq.ft in 2002, which increased to Rs 500 per sq.ft in 2003, marking a 26% rise. By 2007, the value surged to Rs 600 per sq.ft, a 20% increase from the previous year. The guideline value saw significant growth in the following years, reaching Rs 3,500 per sq.ft in 2012, which was a 483% increase from 2007. However, it then decreased by 33% to Rs 2,345 per sq.ft in 2017.

From 2017 to 2023, the value increased by 49%, bringing it to Rs 3,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Maduravoyal

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

• Astalakshmi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 5th 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 4th 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 6th 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, making the total cost for these fees Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Astalakshmi Nagar 6th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 6th 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 plays a crucial role in the registration process when buying or selling property in Maduravoyal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand how the guideline value impacts their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 6th Street?

The current guideline value of Astalakshmi Nagar 6th 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 an overall increase of 867% over this period.

What is the land classification for Astalakshmi Nagar 6th Street?

The land classification for Astalakshmi Nagar 6th Street is Residential Class I Type - I.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for Astalakshmi Nagar 6th Street located?

The Sub Registrar Office for Astalakshmi Nagar 6th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.