Guideline Value for AKKARAI 3RD STREET

Akkarai 3rd Street guideline value

The current guideline value of Akkarai 3rd 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 3rd Street has changed

Over the years, the guideline value for Akkarai 3rd Street has seen significant changes. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the value has risen by 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The 2024 figure of Rs 2,200 per sq.ft is a significant increase of 49% from the 2023 figure of Rs 2,000 per sq.ft.

Guideline values in Sholinganallur - 1

In the village of 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 of Akkarai 3rd Street.

• Akkarai 2nd Street: Rs 2,200 per sq.ft (2024)
• Akkarai 4rd Street (Tvs Avenue): Rs 4,400 per sq.ft (2024)
• Akkarai 1st Street: Rs 2,200 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 3rd 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 amount to 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 the 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 details.

Which Sub Registrar Office covers Akkarai 3rd Street?

The Sub Registrar Office that covers Akkarai 3rd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for legal purposes.

When a buyer and seller agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Akkarai 3rd Street?

The current guideline value of Akkarai 3rd 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 a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in Akkarai 3rd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration of properties in Akkarai 3rd Street?

The Neelankarai Sub Registrar Office is responsible for the registration of properties in Akkarai 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration, ensuring that the sale price is documented accurately for legal and tax purposes.