Guideline Value for Astalakshmi Nagar 11th Street

Astalakshmi Nagar 11th Street guideline value

The current guideline value of Astalakshmi Nagar 11th 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 11th Street has changed

Starting from the earliest revision, the guideline value for Astalakshmi Nagar 11th Street was Rs 398 per sq.ft in 2002. It saw an increase to Rs 500 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. The value then jumped significantly to Rs 3,500 per sq.ft in 2012, which was a remarkable increase of 483% from the previous revision. However, it dropped to Rs 2,345 per sq.ft in 2017, marking a decrease of 33%. The guideline value increased again to Rs 3,500 per sq.ft in 2023, and finally, it rose to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for revisions in years other than those listed. The overall change from 2002 to 2024 shows an increase of 867% in the guideline value.

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 of Rs 3,850 per sq.ft for Astalakshmi Nagar 11th Street is above this median.

• Astalakshmi Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 12th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 13th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 15th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 16th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the 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 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Nagar 11th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 11th 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 details.

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

The guideline value plays a crucial role during the registration of properties in Maduravoyal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the registration process is aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 11th Street?

The current guideline value of Astalakshmi Nagar 11th 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, increasing from Rs 398 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 867%.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, with Astalakshmi Nagar 11th Street's value above this median.

What are the stamp duty and registration fees for a property in Astalakshmi Nagar 11th Street?

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

Where is the Sub Registrar Office for Astalakshmi Nagar 11th Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.