Guideline Value for ABI AKSHYA NAGAR

Abi Akshya Nagar guideline value

The current guideline value of Abi Akshya Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Abi Akshya Nagar has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This figure remained unchanged in the 2017 revision, where it was Rs 201 per sq.ft. The 2023 revision also maintained the value at Rs 300 per sq.ft, and the same value was carried into the 2024 revision, which is also Rs 300 per sq.ft. The register has no figure for this street for the years 2002, 2003, and 2007.

Between the revisions, there was a 49% increase from the 2017 value to the 2023 value, but no change from 2023 to 2024. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 300 per sq.ft.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 16 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 900 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Abi Akshya Nagar is below this median.

• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Gopalasamy Nagar: Rs 500 per sq.ft (2024)
• Ilango Nagar: Rs 500 per sq.ft (2024)
• Jayam Nagar: Rs 501 per sq.ft (2024)
• Kamaraj Nagar: Rs 850 per sq.ft (2024)
• Lake City: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Abi Akshya Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Abi Akshya Nagar?

The Sub Registrar Office that covers Abi Akshya Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Ammanambakkam

The guideline value plays a crucial role during property registration in Ammanambakkam. It is used to determine the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded with the government.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that they are prepared to cover these costs based on the guideline value applicable to the property in question.

Frequently asked questions

What is the current guideline value of Abi Akshya Nagar?

The current guideline value of Abi Akshya Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since the 2012 revision, with no change in the 2023 and 2024 revisions. There was a 49% increase from 2017 to 2023, but the value stayed the same from 2023 to 2024.

What are the guideline values of other streets in Ammanambakkam?

Other streets in Ammanambakkam have varying guideline values, ranging from Rs 300 to Rs 900 per sq.ft. For example, Ganesh Nagar and Gopalasamy Nagar both have a guideline value of Rs 500 per sq.ft in 2024.

How is stamp duty calculated in Abi Akshya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 27,000.

Where can I find the Sub Registrar Office for Abi Akshya Nagar?

The Sub Registrar Office for Abi Akshya Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the appropriate link.