Guideline Value for AKBARABAD SECOND STREET

Akbarabad Second Street guideline value

The current guideline value of Akbarabad Second Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and the land classification is Residential Special Type - I.

How the guideline value of Akbarabad Second Street has changed

In the 2012 revision, the guideline value for Akbarabad Second Street was Rs 7,500 per sq.ft. This figure remained unchanged in the 2023 revision, indicating no increase during that period. However, in the 2024 revision, the guideline value increased to Rs 8,200 per sq.ft, reflecting a 9% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Puliyur

In Puliyur, there are a total of 648 streets under the Kodambakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, placing Akbarabad Second Street's guideline value above this median.

• Akbarabad First Street: Rs 8,200 per sq.ft (2024)
• Alagiri Nagar 1st Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 2nd Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 4th Street: Rs 6,300 per sq.ft (2024)
• Alagiri Nagar 5th Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Akbarabad Second Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty, calculated at 7%, would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total cost for these fees to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akbarabad Second Street?

The Sub Registrar Office that covers Akbarabad Second Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property being transferred. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Akbarabad Second Street?

The current guideline value of Akbarabad Second Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 7,500 per sq.ft from 2012 to 2023, and then increased to Rs 8,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

What is the land classification for Akbarabad Second Street?

Akbarabad Second Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for Akbarabad Second Street?

The Kodambakkam Sub Registrar Office, which covers Akbarabad Second Street, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Puliyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 82,00,000 would incur a stamp duty of Rs 5,74,000 at a rate of 7%.