Guideline Value for AKSHAYA AVENUE

Akshaya Avenue guideline value

The current guideline value of Akshaya Avenue is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Kattavakkam village, under the Walajabad SRO, and is classified as Residential Class I Type - I.

How the guideline value of Akshaya Avenue has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This remained unchanged in the subsequent revisions of 2017 and 2023, where it was also Rs 400 per sq.ft. The 2017 revision saw a decrease from Rs 400 to Rs 268 per sq.ft, marking a -33% change. In contrast, from 2017 to 2023, there was a significant increase of +49% as the value returned to Rs 400 per sq.ft.

The most recent revision in 2024 maintains the guideline value at Rs 400 per sq.ft, reflecting a 0% change from 2023. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattavakkam

In Kattavakkam, there are 19 streets under the Walajabad SRO that carry a guideline value for 2024, ranging from Rs 300 to Rs 800 per sq.ft. The median value is Rs 400 per sq.ft, which is the same as the guideline value for Akshaya Avenue.

• Annai Kanyakumari Nagar & Annai Kanyakumari Nagar Extension: Rs 300 per sq.ft (2024)
• Atchaya Avenue Phase-I: Rs 400 per sq.ft (2024)
• Iyappa Nagar: Rs 300 per sq.ft (2024)
• Jemi Golden City: Rs 350 per sq.ft (2024)
• Millenium Square Phase-I,II,III: Rs 400 per sq.ft (2024)
• Millennium Square Sector-IV: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Akshaya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akshaya Avenue?

The Sub Registrar Office that covers Akshaya Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kattavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, the guideline value helps determine the official value of the property for registration purposes. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Akshaya Avenue?

The current guideline value of Akshaya Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has fluctuated, with a decrease to Rs 268 per sq.ft in 2017, followed by a return to Rs 400 per sq.ft in 2023 and 2024.

What are the other streets in Kattavakkam?

Other streets in Kattavakkam include Annai Kanyakumari Nagar, Atchaya Avenue Phase-I, Iyappa Nagar, Jemi Golden City, Millenium Square Phase-I,II,III, and Millennium Square Sector-IV, each with varying guideline values.

What is the stamp duty rate for properties in Akshaya Avenue?

The stamp duty for properties in Akshaya Avenue is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.