Guideline Value for Astalakshmi Nagar Extn I and II

Astalakshmi Nagar Extn I and II guideline value

The current guideline value for Astalakshmi Nagar Extn I and II is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this region is Residential Special Type - II.

How the guideline value of Astalakshmi Nagar Extn I and II has changed

The guideline value for Astalakshmi Nagar Extn I and II has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, and the most recent 2024 revision has increased it further to Rs 1,650 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The 2023 to 2024 revision saw a 10% rise. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which matches the current value for Astalakshmi Nagar Extn I and II. Below are the guideline values for other streets in Varadarajapuram:

• Astalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Athivaradar Avenue: Rs 3,700 per sq.ft (2024)
• Athivaradar Avenue Extension: Rs 3,700 per sq.ft (2024)
• Ashtalakshmi Nagar Extension - III: Rs 1,980 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,980 per sq.ft (2024)
• Arunachalam Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar Extn I and II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty is charged at 7%, amounting to Rs 1,15,500, and the registration fee at 2% is Rs 33,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Astalakshmi Nagar Extn I and II?

The Sub Registrar Office that covers Astalakshmi Nagar Extn I and II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Varadarajapuram, as it determines the minimum price at which a property can be registered. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Additionally, the guideline value impacts the stamp duty and registration fees that are applicable during the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure a smooth registration process.

Frequently asked questions

What is the current guideline value for Astalakshmi Nagar Extn I and II?

The current guideline value for Astalakshmi Nagar Extn I and II is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Astalakshmi Nagar Extn I and II?

The land classification for Astalakshmi Nagar Extn I and II is Residential Special Type - II.

Where can I find the registration office for Astalakshmi Nagar Extn I and II?

The registration office for Astalakshmi Nagar Extn I and II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Astalakshmi Nagar Extn I and II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.