Guideline Value for Athilakshmi Nagar

Athilakshmi Nagar guideline value

The current guideline value of Athilakshmi Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024. This locality is situated in Konnur village, under the Konnur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Athilakshmi Nagar has changed

The guideline value of Athilakshmi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,800 per sq.ft. The changes between these revisions include a 338% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, which matches the guideline value of Athilakshmi Nagar.

• Avvai Nagar Kambar Street: Rs 5,500 per sq.ft (2024)
• Avvai Street: Rs 5,500 per sq.ft (2024)
• Ashoka Avenue and others Streets: Rs 6,000 per sq.ft (2024)
• Ashoka Avenue(1 to 5 Cross Street): Rs 6,000 per sq.ft (2024)
• Ashoka Avenue (1st Main Street): Rs 6,000 per sq.ft (2024)
• Baba Nagar 10th street and Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Athilakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. 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 further calculations.

Which Sub Registrar Office covers Athilakshmi Nagar?

The Sub Registrar Office that covers Athilakshmi Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Konnur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price of a property.

When a property is sold, the registration office will assess the guideline value to calculate applicable duties and fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Athilakshmi Nagar?

The current guideline value of Athilakshmi Nagar is Rs 3,800 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 2007 to Rs 3,800 per sq.ft in 2024, marking a total increase of 375% over this period.

What are the stamp duty and registration fees for properties in Athilakshmi Nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which office handles property registrations for Athilakshmi Nagar?

The Konnur Sub Registrar Office handles property registrations for Athilakshmi Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating applicable stamp duties and registration fees during a sale.