Guideline Value for Astalakshmi Nagar 13th Street

Astalakshmi Nagar 13th Street guideline value

The current guideline value of Astalakshmi Nagar 13th 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 13th Street has changed

The guideline value for Astalakshmi Nagar 13th 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 26% rise. The value then rose by 20% to Rs 600 per sq.ft in 2007. A significant jump occurred in 2012, where the value reached Rs 3,500 per sq.ft, reflecting an increase of 483%. However, this value decreased by 33% to Rs 2,345 per sq.ft in 2017.

From 2017 to 2023, the guideline value increased by 49% to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,850 per sq.ft, which is a 10% increase from the previous year. The register has no figure for the years not mentioned in the revisions.

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 Astalakshmi Nagar 13th Street above this median.

• Astalakshmi Nagar 10th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 11th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 12th 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 13th 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 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.

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

Which Sub Registrar Office covers Astalakshmi Nagar 13th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 13th 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 the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value assigned to the property by the government. This value is essential for calculating the applicable fees during the registration process, ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 13th Street?

The current guideline value of Astalakshmi Nagar 13th 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 the years.

What is the land classification for Astalakshmi Nagar 13th Street?

The land classification for Astalakshmi Nagar 13th Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Astalakshmi Nagar 13th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.