Guideline Value for Astalakshmi Nagar 24th Street

Astalakshmi Nagar 24th Street guideline value

The current guideline value of Astalakshmi Nagar 24th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Astalakshmi Nagar 24th Street has changed

The guideline value for Astalakshmi Nagar 24th Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 398 per sq.ft. It increased to Rs 500 per sq.ft in 2003, followed by a rise to Rs 600 per sq.ft in 2007. The value then saw a significant jump to Rs 3,500 per sq.ft in 2012, which was a decrease from Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest 2024 revision has increased it to Rs 3,850 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the guideline value has increased by 867%. The value rose by 26% from 2002 to 2003, followed by a 20% increase from 2003 to 2007. There was a substantial increase of 483% from 2007 to 2012. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and the most recent change from 2023 to 2024 is an increase of 10%.

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 24th Street's 2024 figure above that median.

• Astalakshmi Nagar 23rd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 25th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 22nd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 26th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 21st Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 27th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 24th 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 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 more accurate calculations based on your specific situation.

Which Sub Registrar Office covers Astalakshmi Nagar 24th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 24th 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 further assistance.

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

The guideline value is a crucial factor when registering 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, it is essential to consider the guideline value, as it may influence the sale price. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 24th Street?

The current guideline value of Astalakshmi Nagar 24th 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 are the stamp duty and registration fees for property in Astalakshmi Nagar 24th Street?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 3,46,500.

Which Sub Registrar Office covers Astalakshmi Nagar 24th Street?

The Virugambakkam Sub Registrar Office covers Astalakshmi Nagar 24th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value for streets in Maduravoyal?

The median guideline value for streets in Maduravoyal is Rs 3,050 per sq.ft, with Astalakshmi Nagar 24th Street's 2024 figure being above this median.