Guideline Value for Astalakshmi Nagar 18th Street

Astalakshmi Nagar 18th Street guideline value

The current guideline value of Astalakshmi Nagar 18th 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 18th Street has changed

The guideline value for Astalakshmi Nagar 18th 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. Following this, the value rose to Rs 600 per sq.ft in 2007, and then significantly jumped to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally to the current rate of Rs 3,850 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase is +867%. The change from 2017 to 2023 was +49%, while the drop from 2012 to 2017 was -33%. The rise from 2007 to 2012 was +483%, and from 2003 to 2007, it increased by +20%. The change from 2002 to 2003 saw an increase of +26%.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value is Rs 3,050 per sq.ft, placing Astalakshmi Nagar 18th Street's 2024 figure above this median.

• Astalakshmi Nagar 17th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 19th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 16th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 15th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 14th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 18th 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. Together, the total charges 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 use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Astalakshmi Nagar 18th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 18th 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 is a crucial factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the local regulations.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 18th Street?

The current guideline value of Astalakshmi Nagar 18th 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, showing an overall increase of +867% over this period.

What is the land classification of Astalakshmi Nagar 18th Street?

Astalakshmi Nagar 18th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Astalakshmi Nagar 18th Street?

The Virugambakkam Sub Registrar Office covers Astalakshmi Nagar 18th Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would amount to Rs 3,46,500.