Guideline Value for Astalakshmi Nagar 25th Street

Astalakshmi Nagar 25th Street guideline value

The current guideline value for Astalakshmi Nagar 25th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Astalakshmi Nagar 25th Street has changed

The guideline value for Astalakshmi Nagar 25th Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 398 per sq.ft, which increased to Rs 500 per sq.ft in 2003. Following this, the value rose dramatically to Rs 2,100 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024, marking a 10% increase from the previous year.

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

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value in this area is Rs 3,050 per sq.ft, placing Astalakshmi Nagar 25th Street's 2024 figure above the median.

• Astalakshmi Nagar 24th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 26th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 23rd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 27th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 22nd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 21st Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 25th 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 cost for these 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 detailed calculations.

Which Sub Registrar Office covers Astalakshmi Nagar 25th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 25th 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 critical factor when registering property in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with the regulations of the Virugambakkam SRO.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value for Astalakshmi Nagar 25th Street?

The current guideline value for Astalakshmi Nagar 25th 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, marking an overall increase of 867% over the years.

What is the median guideline value in Maduravoyal?

The median guideline value in Maduravoyal is Rs 3,050 per sq.ft, which is below the current value of Astalakshmi Nagar 25th Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,46,500.

Where is the Sub Registrar Office for this street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it covers Astalakshmi Nagar 25th Street.