Guideline Value for Astalakshmi Nagar 9th Street

Astalakshmi Nagar 9th Street guideline value

The current guideline value of Astalakshmi Nagar 9th 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 9th Street has changed

The guideline value for Astalakshmi Nagar 9th Street has seen several revisions over the years. In 2002, the guideline value was Rs 398 per sq.ft, which increased to Rs 500 per sq.ft in 2003, marking a change of +26%. By 2007, the value rose significantly to Rs 600 per sq.ft, reflecting a +20% increase. The 2012 revision saw the value jump to Rs 3,500 per sq.ft, an increase of +483%. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of -33%. The value then rose to Rs 3,500 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 3,850 per sq.ft, indicating a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +867%. There are no figures available for the revisions in 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 value for these streets is Rs 3,050 per sq.ft, placing the 2024 guideline value of Astalakshmi Nagar 9th Street above this median.

• Astalakshmi Nagar 8th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 6th 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 9th 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 amount 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Astalakshmi Nagar 9th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 9th 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 serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the stamp duty based on the higher value between the guideline and the sale price. This ensures that the appropriate taxes are collected during property transactions.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 9th Street?

The current guideline value of Astalakshmi Nagar 9th 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 are the stamp duty and registration fees for property in Astalakshmi Nagar 9th Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Which Sub Registrar Office covers Astalakshmi Nagar 9th Street?

The Virugambakkam Sub Registrar Office covers Astalakshmi Nagar 9th 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, based on the higher value between the guideline and the sale price.