Guideline Value for SRI ASTALAKSHMI GARDEN

Sri Astalakshmi Garden guideline value

The current guideline value of Sri Astalakshmi Garden in Orathur village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Sri Astalakshmi Garden has changed

Over the years, the guideline value for Sri Astalakshmi Garden has seen various revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision increased the value from Rs 335 per sq.ft to Rs 500 per sq.ft, marking a 49% increase. However, from 2012 to 2017, there was a decrease of 33% from the previous value of Rs 500 per sq.ft.

The most recent revision in 2024 has maintained the guideline value at Rs 500 per sq.ft, indicating no change from the 2023 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the current guideline value for Sri Astalakshmi Garden.

• Sri Alamelumangapuram: Rs 500 per sq.ft (2024)
• Sri Agatheshwarar Nagar: Rs 896 per sq.ft (2024)
• S.R.B Avenue: Rs 500 per sq.ft (2024)
• Sri Devi Karumariyamman Nagar: Rs 500 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Astalakshmi Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000. Together, the total cost for stamp duty and registration fee would be Rs 45,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Astalakshmi Garden?

The Sub Registrar Office that covers Sri Astalakshmi Garden is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Orathur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per the regulations set by the Registration Department. This helps in maintaining transparency in property dealings and ensures compliance with local laws.

Frequently asked questions

What is the current guideline value of Sri Astalakshmi Garden?

The current guideline value of Sri Astalakshmi Garden is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a notable increase from Rs 335 per sq.ft in 2017. The value has not changed from 2023 to 2024.

What is the land classification for Sri Astalakshmi Garden?

Sri Astalakshmi Garden is classified as Residential Special Type - II, indicating its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 at 7%.