Guideline Value for Astalakshmi nagar

Astalakshmi nagar guideline value

The current guideline value of Astalakshmi nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Udaiyavarkoil village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Astalakshmi nagar has changed

The guideline value for Astalakshmi nagar has seen several revisions over the years. In 2003, the guideline value was Rs 55 per sq.ft, which increased to Rs 100 per sq.ft in 2007. Following this, the value surged to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 500 per sq.ft, and the most recent revision in 2024 set it at Rs 550 per sq.ft. The register has no figure for this street in 2002.

In terms of percentage changes, the guideline value increased by 82% from 2003 to 2007, followed by a 400% rise from 2007 to 2012. The value then decreased by 33% from 2012 to 2017, before increasing by 49% from 2017 to 2023, and finally rising by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 900%.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is the same as the value for Astalakshmi nagar.

• A.S.P.Avenue: Rs 1,000 per sq.ft (2024)
• Athavan nagar: Rs 825 per sq.ft (2024)
• A.R.K.விக்னேஷ்வரா நகர்: Rs 1,000 per sq.ft (2024)
• Arivoli nagar: Rs 550 per sq.ft (2024)
• Bajanai Koil Street: Rs 550 per sq.ft (2024)
• Annai Nagar: Rs 990 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process of property transactions in Udaiyavarkoil. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property in the context of government regulations. It is crucial for buyers to be aware of the guideline value to ensure compliance with registration requirements and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Astalakshmi nagar?

The current guideline value of Astalakshmi nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 55 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, representing an overall increase of 900% since 2003.

What is the land classification for Astalakshmi nagar?

Astalakshmi nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated in Astalakshmi nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 5,50,000, the stamp duty at 7% would be Rs 38,500.