Guideline Value for Astalakshmi Nagar

Astalakshmi Nagar guideline value

The current guideline value of Astalakshmi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village, under the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Astalakshmi Nagar has changed

The guideline value for Astalakshmi Nagar has seen significant changes over the years. In 2003, the value was Rs 51 per sq.ft, which increased dramatically to Rs 500 per sq.ft in 2007. Following that, the value rose to Rs 700 per sq.ft in 2012, but then dropped to Rs 469 per sq.ft in 2017. The 2023 revision marked another increase to Rs 700 per sq.ft, and the most recent revision in 2024 set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1410%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Astalakshmi Nagar is above this median.

• A S Avenue: Rs 440 per sq.ft (2024)
• Arul Nagar: Rs 770 per sq.ft (2024)
• Aravind Farms: Rs 440 per sq.ft (2024)
• Balaji Nagar: Rs 770 per sq.ft (2024)
• Annai Vetha Nagar Extn. - I: Rs 440 per sq.ft (2024)
• Annai Vedha Nagar: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Astalakshmi Nagar?

The Sub Registrar Office that covers Astalakshmi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Vilangadupakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Astalakshmi Nagar?

The current guideline value of Astalakshmi Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 51 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, marking an overall increase of 1410% over this period.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registration for Astalakshmi Nagar?

The Redhills Sub Registrar Office handles property registration for Astalakshmi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the guideline value determined for properties in Vilangadupakkam?

The guideline value for properties in Vilangadupakkam is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in the real estate market.