Guideline Value for Astalakshmi Nagar

Astalakshmi Nagar guideline value

The current guideline value of Astalakshmi Nagar, located in Thirumudivakkam village under the Padappai SRO, is Rs 880 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar has changed

The guideline value of Astalakshmi Nagar has undergone several revisions over the years. In the 2012 revision, the rate was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, and then rose again to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Astalakshmi Nagar is below this median.

• Arunagiri Nagar: Rs 880 per sq.ft (2024)
• A.R.Rahman Nagar: Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street: Rs 880 per sq.ft (2024)
• Anna Baba Nagar: Rs 880 per sq.ft (2024)
• Amarprakash Developers: Rs 1,320 per sq.ft (2024)
• Aditya Industrial Park: Rs 1,930 per sq.ft (2024)

Stamp duty and registration fee for property in Astalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. 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?

The Sub Registrar Office that covers Astalakshmi Nagar 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 Thirumudivakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumudivakkam. It determines the minimum value at which the property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must agree on a sale price, which cannot be lower than the guideline value. This ensures transparency and accountability in property transactions, as the guideline value reflects the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar?

The current guideline value of Astalakshmi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Astalakshmi Nagar?

Astalakshmi Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Astalakshmi Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where can I find the Sub Registrar Office for Astalakshmi Nagar?

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