Guideline Value for Astalakshmi Nagar 26th Street

Astalakshmi Nagar 26th Street guideline value

The current guideline value of Astalakshmi Nagar 26th 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 26th Street has changed

The guideline value for Astalakshmi Nagar 26th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 398 per sq.ft. In 2003, it increased to Rs 500 per sq.ft, followed by a rise to Rs 600 per sq.ft in 2007. The 2012 revision saw the value drop to Rs 3,500 per sq.ft, which remained unchanged until the 2017 revision, where it increased to Rs 2,345 per sq.ft. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent 2024 revision has raised it to Rs 3,850 per sq.ft.

Notably, the changes between the revisions reflect significant fluctuations. From 2002 to 2003, the value increased by 26%. The increase from 2003 to 2007 was 20%, followed by a substantial rise of 483% from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. From 2017 to 2023, there was a notable increase of 49%, culminating in a 10% rise 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, with a median value of Rs 3,050 per sq.ft. The guideline value of Rs 3,850 per sq.ft for Astalakshmi Nagar 26th Street is above this median.

• Astalakshmi Nagar 25th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 27th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 24th Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 23rd Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 2nd Main Road: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 22nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 26th 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, 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 and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Astalakshmi Nagar 26th Street?

The Sub Registrar Office that covers Astalakshmi Nagar 26th 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 an essential 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is crucial to be aware of the guideline value, as it can influence the overall costs associated with the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 26th Street?

The current guideline value of Astalakshmi Nagar 26th 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 seen several revisions, starting from Rs 398 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 867% since 2002.

What is the registration office for Astalakshmi Nagar 26th Street?

The registration office for Astalakshmi Nagar 26th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in Astalakshmi Nagar 26th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500 at a rate of 7%.

What are the guideline values for other streets in Maduravoyal?

Other streets in Maduravoyal have a guideline value of Rs 3,850 per sq.ft for the year 2024, including Astalakshmi Nagar 25th Street, 27th Street, 24th Street, 23rd Street, 2nd Main Road, and 22nd Street.