Guideline Value for AKSHAYA NAGAR

Akshaya Nagar guideline value

The current guideline value of Akshaya Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thandalam village under the Thiruporur SRO, classified as Commercial Class I Type - II.

How the guideline value of Akshaya Nagar has changed

The guideline value for Akshaya Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then decreased by 33% to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly by 49% to Rs 600 per sq.ft in 2023, and then further rose by 10% to the current rate of Rs 660 per sq.ft in 2024. The register has no figures for the revisions in 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions highlight the fluctuations in the guideline value over the years.

Guideline values in Thandalam

In Thandalam, there are 26 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,275 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Akshaya Nagar is below this median.

• Amar Garden: Rs 1,980 per sq.ft (2024)
• Adityaram Happinest: Rs 1,980 per sq.ft (2024)
• Anandham Nagar: Rs 1,478 per sq.ft (2024)
• Anandham Nagar Extention: Rs 1,478 per sq.ft (2024)
• Chellammal Nagar: Rs 1,100 per sq.ft (2024)
• Dasara Bhoomi: Rs 1,650 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Nagar?

The Sub Registrar Office that covers Akshaya Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government collects the appropriate fees based on the property's value as per the guidelines set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Akshaya Nagar?

The current guideline value of Akshaya Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Akshaya Nagar?

Akshaya Nagar is classified as Commercial Class I Type - II, which indicates its zoning for commercial use.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200.