Guideline Value for AKSHAYA GARDEN

Akshaya Garden guideline value

The current guideline value of Akshaya Garden in Nedunkumdram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - IV.

How the guideline value of Akshaya Garden has changed

Over the years, the guideline value of Akshaya Garden has seen significant revisions. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. This value increased to Rs 3,000 per sq.ft in the 2023 revision, marking a change of 124%. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 146%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nedunkumdram

Nedunkumdram village has a range of guideline values across its 75 streets under the Tambaram Joint 1 SRO, with figures ranging from Rs 330 to Rs 5,300 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing Akshaya Garden's current figure above this median.

• Aishwaryam Garden: Rs 3,300 per sq.ft (2024)
• Ashok Nagar: Rs 1,100 per sq.ft (2024)
• Ashok Nandhavanam: Rs 1,440 per sq.ft (2024)
• Auris: Rs 3,080 per sq.ft (2024)
• Balasubramaniyam Nagar Phase II: Rs 2,750 per sq.ft (2024)
• Casagrand Vistaaz: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Akshaya Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Akshaya Garden?

The Sub Registrar Office covering Akshaya Garden is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Nedunkumdram. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being registered.

Frequently asked questions

What is the current guideline value of Akshaya Garden?

The current guideline value of Akshaya Garden is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 146%.

What is the land classification of Akshaya Garden?

Akshaya Garden is classified as Residential Class II Type - IV, indicating its suitability for residential development.

What are the stamp duty rates applicable in Akshaya Garden?

The stamp duty rate for properties in Akshaya Garden is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Akshaya Garden?

The Sub Registrar Office for Akshaya Garden is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.