Guideline Value for AKN NAGAR PART 4

Akn Nagar Part 4 guideline value

The current guideline value of Akn Nagar Part 4 is Rs 300 per sq.ft. This property is located in Kovilkuppam village under the Manavalanagar SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Akn Nagar Part 4 has changed

The guideline value for Akn Nagar Part 4 has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, it was adjusted down to Rs 201 per sq.ft in 2017. The 2023 revision brought it back to Rs 300 per sq.ft, and the same value has been maintained in the 2024 revision, effective from 1 July 2024. Notably, the revisions for the years 2002, 2003, and 2007 do not have figures recorded for this street.

From 2017 to 2023, there was a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, comparing the figures from 2012 to 2024, the guideline value has remained constant, showing a 0% change.

Guideline values in Kovilkuppam

Kovilkuppam village has a range of guideline values across its 68 streets under the Manavalanagar SRO, with values ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value is Rs 350 per sq.ft, placing Akn Nagar Part 4's 2024 figure below this median.

• Akn Nagar Part 1: Rs 300 per sq.ft (2024)
• A.K.N.Nagar Part VII: Rs 375 per sq.ft (2024)
• Akn Nagar: Rs 300 per sq.ft (2024)
• Annai Rajeswarai Nagar: Rs 300 per sq.ft (2024)
• Balaji Avenue: Rs 450 per sq.ft (2024)
• Bala Murugan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Akn Nagar Part 4

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akn Nagar Part 4?

The Sub Registrar Office that covers Akn Nagar Part 4 is the Manavalanagar Sub Registrar Office. The office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Kovilkuppam, the guideline value is a crucial factor during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the official valuation of the property.

The guideline value helps maintain transparency in property transactions, as it provides a standardized valuation that is recognized by the Registration Department. This ensures that the property is valued fairly according to the current market conditions as reflected in the guideline value register.

Frequently asked questions

What is the current guideline value of Akn Nagar Part 4?

The current guideline value of Akn Nagar Part 4 is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 300 per sq.ft. The value was Rs 201 per sq.ft in 2017, showing a significant increase from that year to 2023.

What is the land classification of Akn Nagar Part 4?

Akn Nagar Part 4 falls under the Residential Class III Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Akn Nagar Part 4?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value.

Which Sub Registrar Office covers Akn Nagar Part 4?

The Manavalanagar Sub Registrar Office covers Akn Nagar Part 4, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.