Guideline Value for AKKARAI 2ND STREET

Akkarai 2nd Street guideline value

The current guideline value of Akkarai 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Akkarai 2nd Street has changed

The guideline value for Akkarai 2nd Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The current revision in 2024 raised it further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value for Akkarai 2nd Street.

• Akkarai 1st Street: Rs 2,200 per sq.ft (2024)
• Akkarai 3rd Street: Rs 2,200 per sq.ft (2024)
• Akkarai 4rd Street (Tvs Avenue): Rs 4,400 per sq.ft (2024)
• Akkarai Main Road: Rs 2,800 per sq.ft (2024)
• A.K.Holdings Park: Rs 2,200 per sq.ft (2024)
• Amar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Akkarai 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, making the total fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Akkarai 2nd Street?

The Akkarai 2nd Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value serves as a benchmark, ensuring that the transaction is recorded at a value that reflects the current market standards set by the government.

Frequently asked questions

What is the current guideline value of Akkarai 2nd Street?

The current guideline value of Akkarai 2nd Street 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 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over the seven years.

What is the land classification of Akkarai 2nd Street?

Akkarai 2nd Street is classified as Residential Class II Type - III, indicating its suitability for residential development.

What other streets have the same guideline value?

Other streets in Sholinganallur - 1, such as Akkarai 1st Street and Akkarai 3rd Street, also have a guideline value of Rs 2,200 per sq.ft in 2024.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.