Guideline Value for AKSHAYA NAGAR

Akshaya Nagar guideline value

The current guideline value of Akshaya Nagar is Rs 300 per sq.ft, effective from the 2024 revision. This area is located in Pakkam village, under the Madurandakam SRO, and is classified as Mixed Type - I land.

How the guideline value of Akshaya Nagar has changed

Over the years, the guideline value for Akshaya Nagar has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 201 per sq.ft, before returning to Rs 300 per sq.ft in both the 2023 and 2024 revisions. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, but there was no change from 2023 to 2024. Overall, the guideline value from 2012 to 2024 has remained constant at Rs 300 per sq.ft.

Guideline values in Pakkam

In Pakkam, there are 13 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 200 to Rs 350 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Akshaya Nagar's 2024 figure at the median level.

• Aasai Nagar Phase-III: Rs 300 per sq.ft (2024)
• Aasai Nagar Phase - II: Rs 300 per sq.ft (2024)
• Asai Nagar: Rs 300 per sq.ft (2024)
• Assai Nagar Phase-6a: Rs 300 per sq.ft (2024)
• Esic Employes Union Golden Juble Nagar: Rs 300 per sq.ft (2024)
• J J Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Akshaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees Rs 27,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akshaya Nagar?

The Sub Registrar Office that covers Akshaya Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Pakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the correct fees are calculated based on the property's value. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Akshaya Nagar?

The current guideline value of Akshaya Nagar is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in 2023 and 2024, while it was Rs 201 per sq.ft in 2017. The value decreased from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, before returning to Rs 300 per sq.ft in subsequent revisions.

What is the land classification of Akshaya Nagar?

Akshaya Nagar is classified as Mixed Type - I land, which is important for understanding its usage and potential development.

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

The Madurandakam Sub Registrar Office covers Akshaya Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Akshaya Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at a rate of 7%.