Guideline Value for AKILA AVENUE

Akila Avenue guideline value

The current guideline value of Akila Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Mixed Type - II land.

How the guideline value of Akila Avenue has changed

Starting with the 2012 revision, the guideline value for Akila Avenue was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft, marking a decline of 33%. In the following 2023 revision, the value increased significantly to Rs 2,500 per sq.ft, and then further rose to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Akila Avenue in the register.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for Akila Avenue.

• Akshayam Avenue: Rs 3,300 per sq.ft (2024)
• Aiswarya Garden Extension 3rd Cross Street: Rs 4,300 per sq.ft (2024)
• Aadhinath Avenue: Rs 2,350 per sq.ft (2024)
• Anantha Nagar: Rs 2,700 per sq.ft (2024)
• Anjaneyar Koil Street: Rs 2,700 per sq.ft (2024)
• Annai Ahalyaa: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Akila Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akila Avenue?

The Sub Registrar Office that covers Akila Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengaivasal. It is used to determine the stamp duty and registration fees that must be paid to the government during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Akila Avenue?

The current guideline value of Akila Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Akila Avenue?

Akila Avenue is classified as Mixed Type - II land, as per the guidelines set by the local authorities.

Where can I find the Sub Registrar Office for Akila Avenue?

The Selaiyur Sub Registrar Office, which covers Akila Avenue, is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Akila Avenue?

Stamp duty for properties in Akila Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft, the stamp duty would be Rs 1,89,000.