Guideline Value for AKS Nagar

AKS Nagar guideline value

The current guideline value of AKS Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of AKS Nagar has changed

The guideline value for AKS Nagar has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a significant increase from the 2017 revision of Rs 1,340 per sq.ft. This reflects a change of +64%. Prior to that, in 2012, the guideline value was Rs 2,000 per sq.ft, indicating a decrease of -33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of +10%.

It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Therefore, the only available figures are from the 2012, 2017, and 2024 revisions.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing AKS Nagar's 2024 figure above this median.

• Akbar Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Alex Nagar A - Colony 1st st (Ward No.8): Rs 2,200 per sq.ft (2024)
• Alex Nagar A - Colony 2nd st (Ward No.8): Rs 2,200 per sq.ft (2024)
• Alex Nagar A - Colony 3rd st (Ward No.8): Rs 2,200 per sq.ft (2024)
• Alex Nagar A - Colony 4th st (Ward No.8): Rs 2,200 per sq.ft (2024)
• Alex Nagar A Colony Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in AKS Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total fees to 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers AKS Nagar?

The Sub Registrar Office that covers AKS Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers and sellers should ensure that the sale price is in line with the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of AKS Nagar?

The current guideline value of AKS Nagar 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 changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024. This represents a +10% overall increase from 2012 to 2024.

What is the land classification of AKS Nagar?

AKS Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in AKS Nagar?

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 is responsible for property registration in AKS Nagar?

The Madhavaram Sub Registrar Office is responsible for property registration in AKS Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.