Guideline Value for AKAN AVENUE

Akan Avenue guideline value

The current guideline value of Akan Avenue in Perungalathur village is Rs 1,770 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office and is classified as Residential Class V Type - III.

How the guideline value of Akan Avenue has changed

The guideline value for Akan Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 1,608 per sq.ft, which remained unchanged in the 2023 revision. However, with the 2024 revision, the value increased to Rs 1,770 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Akan Avenue's 2024 guideline value is below this median.

• Akan Avenue Phase III: Rs 2,800 per sq.ft (2024)
• Akan Avenue Phase IV: Rs 2,800 per sq.ft (2024)
• A.G.S. Colony: Rs 1,980 per sq.ft (2024)
• Alamelmangapuram: Rs 1,650 per sq.ft (2024)
• Albin Garden: Rs 2,310 per sq.ft (2024)
• Albin Garden Extension: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Akan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,770 per sq.ft, the total guideline value would be Rs 17,70,000. The stamp duty at 7% would amount to Rs 1,23,900, and the registration fee at 2% would be Rs 35,400, leading to a total of Rs 1,59,300. It is important to note that the 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 Akan Avenue?

The Sub Registrar Office that covers Akan Avenue is 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 Perungalathur

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized valuation.

When a property is sold, the guideline value helps in establishing a fair transaction price for both the buyer and seller. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Akan Avenue?

The current guideline value of Akan Avenue is Rs 1,770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Akan Avenue has seen a 10% increase from Rs 1,608 per sq.ft in 2023 to Rs 1,770 per sq.ft in 2024. There was no change from 2017 to 2023, with the value remaining at Rs 1,608 per sq.ft during that period.

What is the classification of land on Akan Avenue?

Akan Avenue is classified as Residential Class V Type - III. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.

Where can I find the registration office for Akan Avenue?

The registration office for Akan Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property in Akan Avenue?

The stamp duty for property in Akan Avenue is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot valued at Rs 1,770 per sq.ft would incur a stamp duty of Rs 1,23,900.