Guideline Value for Astalakshmi Nagar 17th Street

Astalakshmi Nagar 17th Street guideline value

The current guideline value of Astalakshmi Nagar 17th 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 17th Street has changed

The guideline value for Astalakshmi Nagar 17th Street has undergone 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, reflecting a change of +26%. The value then rose to Rs 600 per sq.ft in 2007, marking a +20% increase. A significant jump occurred in 2012, where the value reached Rs 3,500 per sq.ft, resulting in a remarkable +483% change from the previous revision. However, it decreased to Rs 2,345 per sq.ft in 2017, reflecting a -33% change. The value then increased to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,850 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +867%. The register has no figure for revisions in the years not mentioned above.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO carrying 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. Astalakshmi Nagar 17th Street's 2024 guideline value of Rs 3,850 per sq.ft is above the median.

• Astalakshmi Nagar 16th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 18th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 15th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 19th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 14th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 13th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 17th 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. Together, the total cost for stamp duty and registration fee would be 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Astalakshmi Nagar 17th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 17th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value or the sale price, whichever is higher, is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 17th Street?

The current guideline value of Astalakshmi Nagar 17th 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, reflecting an overall increase of +867% over the years.

What is the land classification of Astalakshmi Nagar 17th Street?

Astalakshmi Nagar 17th Street is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Astalakshmi Nagar 17th Street?

The Virugambakkam Sub Registrar Office covers Astalakshmi Nagar 17th Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Astalakshmi Nagar 17th Street?

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