Guideline Value for A.K.B. GREEN FIELDS

A.K.B. Green Fields guideline value

The current guideline value of A.K.B. Green Fields is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Vengambakkam village, under the Tambaram Joint 1 SRO, and is classified as Mixed Special Type - I.

How the guideline value of A.K.B. Green Fields has changed

The guideline value for A.K.B. Green Fields has seen several revisions over the years. The 2017 revision set the value at Rs 2,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 50% rise from the previous figure. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the 2023 figure.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value in the village is Rs 770 per sq.ft, and A.K.B. Green Fields is above this median.

• Akb Fortune: Rs 2,200 per sq.ft (2024)
• ADP Avenue: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Street: Rs 550 per sq.ft (2024)
• Anna Main Road: Rs 1,160 per sq.ft (2024)
• Anna Main Road (Cross Street): Rs 550 per sq.ft (2024)
• Anna Main Road(Vengampakkam colony): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in A.K.B. Green Fields

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. 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 more detailed calculations.

Which Sub Registrar Office covers A.K.B. Green Fields?

The A.K.B. Green Fields property falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be paid by the buyer. This ensures that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of A.K.B. Green Fields?

The current guideline value of A.K.B. Green Fields is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What is the land classification of A.K.B. Green Fields?

A.K.B. Green Fields is classified as Mixed Special Type - I, indicating its suitability for various types of development.

What are the other guideline values in Vengambakkam?

In Vengambakkam, the guideline values range from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. A.K.B. Green Fields is above this median.

Where can I find the Sub Registrar Office for A.K.B. Green Fields?

The Sub Registrar Office covering A.K.B. Green Fields is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.