Guideline Value for Astalakshmi Nagar 7th Street

Astalakshmi Nagar 7th Street guideline value

The current guideline value of Astalakshmi Nagar 7th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar 7th Street has changed

The guideline value for Astalakshmi Nagar 7th Street has seen several revisions over the years. In 2002, the value was Rs 398 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a 26% rise. By 2007, it further increased to Rs 600 per sq.ft, a 20% change. The value then saw a significant jump to Rs 3,500 per sq.ft in 2012, representing a 483% increase. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The value was revised to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,850 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 867%. There are no figures available for revisions in years not listed in the register.

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, with a median value of Rs 3,050 per sq.ft. The guideline value of Astalakshmi Nagar 7th Street is above this median.

• Astalakshmi Nagar 6th 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 5th 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 7th 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, resulting in a total of 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Astalakshmi Nagar 7th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 7th 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 a crucial factor during property registration in Maduravoyal. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When selling or purchasing a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is necessary for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 7th Street?

The current guideline value of Astalakshmi Nagar 7th 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 significantly from Rs 398 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 867% over this period.

What is the stamp duty for property in Astalakshmi Nagar 7th Street?

The stamp duty for a property in Astalakshmi Nagar 7th Street is 7% of the guideline value or sale price, whichever is higher. For example, on a 1,000 sq.ft property, the stamp duty would be Rs 2,69,500.

Where is the Sub Registrar Office for Astalakshmi Nagar 7th Street located?

The Sub Registrar Office for Astalakshmi Nagar 7th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What land classification does Astalakshmi Nagar 7th Street fall under?

Astalakshmi Nagar 7th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.