Guideline Value for Asthalakshmi Nagar

Asthalakshmi Nagar guideline value

The current guideline value of Asthalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Asthalakshmi Nagar has changed

Over the years, the guideline value of Asthalakshmi Nagar has seen significant changes. The 2007 revision recorded a value of Rs 400 per sq.ft, which rose dramatically to Rs 2,000 per sq.ft in the 2012 revision, marking a 400% increase. However, this figure saw a decline of 33% to Rs 1,340 per sq.ft in the 2017 revision. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Asthalakshmi Nagar's current value below this median.

• Ayyanar Nagar: Rs 3,300 per sq.ft (2024)
• Ayyasamy Street: Rs 6,600 per sq.ft (2024)
• Bagavath Sing Street: Rs 3,300 per sq.ft (2024)
• Bajanai Koil Street (Kannadapalayam): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Near Gandhi road Ward-1): Rs 2,200 per sq.ft (2024)
• Bajanai Koil Street (Near mudichur road ward-31): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Asthalakshmi Nagar

For a 1,000 sq.ft plot in Asthalakshmi Nagar at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Asthalakshmi Nagar?

The Sub Registrar Office that covers Asthalakshmi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tambaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall costs associated with property transactions. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Asthalakshmi Nagar?

The current guideline value of Asthalakshmi Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450%.

What is the land classification for Asthalakshmi Nagar?

Asthalakshmi Nagar is classified as Residential Class I Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Asthalakshmi Nagar located?

The Sub Registrar Office for Asthalakshmi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.