Guideline Value for SRI ASTALAKSHMI NAGAR

Sri Astalakshmi Nagar guideline value

The current guideline value of Sri Astalakshmi Nagar, located in Manimangalam B village under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Astalakshmi Nagar has changed

The guideline value for Sri Astalakshmi Nagar has undergone several revisions over the years. In 2017, the value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 770 per sq.ft, which represents a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam B

In Manimangalam B, there are 16 streets 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 is below this median.

• Sri Astalakshmi Nagar Phase - III: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Astalakshmi Nagar?

Sri Astalakshmi Nagar falls under 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered alongside the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is based on a standardized valuation.

Frequently asked questions

What is the current guideline value of Sri Astalakshmi Nagar?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Sri Astalakshmi Nagar?

The Padappai Sub Registrar Office handles property registrations for Sri Astalakshmi Nagar. The office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Sri Astalakshmi Nagar?

Sri Astalakshmi Nagar is classified as Residential Class II Type - I, which indicates the type of development permissible in the area.