Guideline Value for Astalakshmi Nagar 19th Street

Astalakshmi Nagar 19th Street guideline value

The current guideline value for Astalakshmi Nagar 19th Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar 19th Street has changed

The guideline value for Astalakshmi Nagar 19th Street has seen several revisions over the years. In 2002, the guideline value was Rs 398 per sq.ft. This increased to Rs 500 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. A significant jump occurred in 2012, where the value reached Rs 3,500 per sq.ft. However, it then dropped to Rs 2,345 per sq.ft in 2017. The value increased again to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,850 per sq.ft.

Between these revisions, there were notable changes. From 2002 to 2003, the value increased by 26%. From 2003 to 2007, it rose by 20%. The jump from 2007 to 2012 was substantial at 483%. However, from 2012 to 2017, there was a decrease of 33%. Following this, the value increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 867%.

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 guideline value for these streets is Rs 3,050 per sq.ft, placing Astalakshmi Nagar 19th Street above this median.

• Astalakshmi Nagar 18th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 17th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 1st Main Road: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 16th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 15th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 19th 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 charges 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Nagar 19th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 19th 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 in 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 government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is advisable to refer to the latest guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 19th Street?

The current guideline value of Astalakshmi Nagar 19th 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 for Astalakshmi Nagar 19th Street?

The land classification for Astalakshmi Nagar 19th Street is Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Astalakshmi Nagar 19th Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is 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%.