Guideline Value for A.K.M. NAGAR

A.K.M. Nagar guideline value

The current guideline value of A.K.M. Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of A.K.M. Nagar has changed

The guideline value for A.K.M. Nagar has undergone several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 500% increase. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft, a reduction of 33%. The next revision in 2023 set the value at Rs 300 per sq.ft, and the latest revision in 2024 raised it to Rs 330 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, which is equal to the guideline value of A.K.M. Nagar.

• Ambal Street: Rs 330 per sq.ft (2024)
• Anand Nagar: Rs 330 per sq.ft (2024)
• Annai Avenue: Rs 330 per sq.ft (2024)
• Annai Rathinamani Nagar/Avenue: Rs 330 per sq.ft (2024)
• Anna Nagar: Rs 330 per sq.ft (2024)
• Arulmigu Kongiamman Nagar/Ext: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in A.K.M. Nagar

For a 1,000 sq.ft plot at the current rate of Rs 330 per sq.ft, the guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. 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 information.

Which Sub Registrar Office covers A.K.M. Nagar?

The A.K.M. Nagar area falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of A.K.M. Nagar?

The current guideline value of A.K.M. Nagar is Rs 330 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the stamp duty and registration fees for A.K.M. Nagar?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles registrations for A.K.M. Nagar?

The Thiruvottiyur Sub Registrar Office handles registrations for A.K.M. Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the correct fees are applied based on the higher value between the guideline and sale price.