Guideline Value for A.K.R.Nagar

A.K.R.Nagar guideline value

The current guideline value of A.K.R.Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

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

The guideline value of A.K.R.Nagar has seen significant changes over the years. In 2002, the value was Rs 325 per sq.ft, which increased to Rs 354 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 500 per sq.ft in 2007, a substantial increase of 41%. Following this, the guideline value jumped to Rs 3,500 per sq.ft in 2012, reflecting a remarkable 600% increase. The value remained the same until the 2023 revision, where it was again Rs 3,500 per sq.ft.

In the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, representing a 10% rise from the previous year. It is noteworthy that the register has no figure for A.K.R.Nagar for the year 2017.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the guideline value of A.K.R.Nagar for 2024.

• A.K.R.Nagar 10th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 1st Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 2nd Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 3rd Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 4th Cross street: Rs 3,850 per sq.ft (2024)
• A.K.R.Nagar 5th Cross street: Rs 3,850 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

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

The Sub Registrar Office that covers A.K.R.Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. 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 registered, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value of A.K.R.Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 325 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1085% over this period.

What is the land classification of A.K.R.Nagar?

A.K.R.Nagar is classified as Residential Class II Type - I, indicating its suitability for residential developments.

What are the stamp duty and registration fees for property in A.K.R.Nagar?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.