Guideline Value for AKB FORTUNE

Akb Fortune guideline value

The current guideline value of Akb Fortune in Vengambakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - IV.

How the guideline value of Akb Fortune has changed

Since the 2017 revision, the guideline value for Akb Fortune has remained stable at Rs 2,000 per sq.ft until the 2023 revision, where it was revised to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The revisions for the years 2002, 2003, 2007, and 2012 have no figures recorded for this street.

In summary, the guideline value has increased by 10% overall from the 2017 revision to the 2024 revision. The 2023 to 2024 revision specifically reflects a 10% increase from Rs 2,000 to Rs 2,200 per sq.ft.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Akb Fortune's 2024 figure above this median.

• A.K.B. Green Fields: Rs 3,300 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 Akb Fortune

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 Akb Fortune?

The Sub Registrar Office covering Akb Fortune is 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 critical factor during property registration in Vengambakkam. It determines the minimum price at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the official value set by the government. Buyers and sellers should be aware of these values to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Akb Fortune?

The current guideline value of Akb Fortune is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase overall. There were no changes recorded for the years 2002, 2003, 2007, and 2012.

What is the land classification of Akb Fortune?

Akb Fortune is classified as Residential Class I Type - IV, indicating its suitability for residential development.

Where is the Sub Registrar Office for Akb Fortune located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Akb Fortune?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.