Guideline Value for SRI ASTALAKSHMI NAGAR PHASE - III

Sri Astalakshmi Nagar Phase - III guideline value

The current guideline value for Sri Astalakshmi Nagar Phase - III is Rs 770 per sq.ft. This area is located in Manimangalam B village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Astalakshmi Nagar Phase - III has changed

The guideline value for Sri Astalakshmi Nagar Phase - III has seen several revisions over the years. The earliest recorded figure is from 2017, which was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Manimangalam B

In Manimangalam B, there are 16 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 1,800 per sq.ft, with a median value of Rs 1,360 per sq.ft. The guideline value for Sri Astalakshmi Nagar Phase - III is below this median.

• Sri Astalakshmi Nagar: Rs 770 per sq.ft (2024)
• Shobha Blossoms: Rs 1,540 per sq.ft (2024)
• Shiva Garden Part - II: Rs 880 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Nandhini Garden Phase -II: Rs 960 per sq.ft (2024)
• Nandhini Garden: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Astalakshmi Nagar Phase - III

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Astalakshmi Nagar Phase - III?

The Sub Registrar Office that covers Sri Astalakshmi Nagar Phase - III is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manimangalam B. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property transactions in the area.

Frequently asked questions

What is the current guideline value for Sri Astalakshmi Nagar Phase - III?

The current guideline value for Sri Astalakshmi Nagar Phase - III is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, rising from Rs 469 per sq.ft to Rs 770 per sq.ft.

What are the stamp duty and registration fees for a property in Sri Astalakshmi Nagar Phase - III?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers this area?

The Padappai Sub Registrar Office covers Sri Astalakshmi Nagar Phase - III, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Sri Astalakshmi Nagar Phase - III?

Sri Astalakshmi Nagar Phase - III is classified as Residential Class II Type - I.