Guideline Value for Astalakshmi Nagar 3rd Cross Street

Astalakshmi Nagar 3rd Cross Street guideline value

The current guideline value of Astalakshmi Nagar 3rd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Astalakshmi Nagar 3rd Cross Street has changed

The guideline value for Astalakshmi Nagar 3rd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. This was a decrease of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision marking it at Rs 3,500 per sq.ft, and the current 2024 revision increasing it to Rs 3,850 per sq.ft, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value of Astalakshmi Nagar 3rd Cross Street is below this median.

• Astalakshmi Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 6th Cross Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Astalakshmi Nagar Nethaji Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar 3rd Cross 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 fees together 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 3rd Cross Street?

The Sub Registrar Office that covers Astalakshmi Nagar 3rd Cross Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the registration process requires that the sale price or the guideline value, whichever is higher, is used for calculating the applicable stamp duty and registration fees.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements during property transactions. It is essential to refer to the latest revisions to ascertain the correct values applicable to specific properties.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar 3rd Cross Street?

The current guideline value of Astalakshmi Nagar 3rd Cross 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 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Astalakshmi Nagar 3rd Cross Street is Residential Class II Type - III.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for this area located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.