Guideline Value for Sri Astalakshmi Nagar

Sri Astalakshmi Nagar guideline value

The current guideline value of Sri Astalakshmi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Astalakshmi Nagar has changed

The guideline value for Sri Astalakshmi Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 469 per sq.ft, which increased to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

Within Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for the area is Rs 880 per sq.ft, indicating that the guideline value for Sri Astalakshmi Nagar is below this median.

• Sri Astalakshmi Nagar Extension: Rs 770 per sq.ft (2024)
• Sri Aravindhar City: Rs 770 per sq.ft (2024)
• Sri Ambal Nagar: Rs 880 per sq.ft (2024)
• Sri Gajalakshmi Nagar Annex I to III: Rs 1,430 per sq.ft (2024)
• Sri Gajalakshmi Nagar Extension: Rs 1,430 per sq.ft (2024)
• Sri Jayalakshmi Nagar: 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 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, summing up to a total of 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 our stamp duty and registration fee calculator for more details.

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 A

The guideline value plays a crucial role during the registration process of property transactions in Manimangalam A. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the land records.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that they are informed about the guideline value to avoid any discrepancies during the registration process.

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 then to Rs 770 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the median guideline value in Manimangalam A?

The median guideline value in Manimangalam A is Rs 880 per sq.ft, while the guideline value for Sri Astalakshmi Nagar is below this median at Rs 770 per sq.ft.

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

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 based on the guideline value of the property.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. This office handles the registration of properties in Sri Astalakshmi Nagar.