Guideline Value for AKSHAYA NAGAR

Akshaya Nagar guideline value

The current guideline value of Akshaya Nagar is Rs 401 per sq.ft, effective from 1 July 2024. This area is located in Malliyankaranai village and falls under the Uthiramerur SRO. The land classification for this street is Residential Special 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 earliest recorded revision was in 2012, where the guideline value was Rs 400 per sq.ft. In 2017, it decreased to Rs 268 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, showing a rise of 49%. The most recent revision in 2024 has maintained the guideline value at Rs 401 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the figures from 2012 to 2024, there has been no net change in the guideline value.

Guideline values in Malliyankaranai

In Malliyankaranai, there are 42 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 603 per sq.ft. The median value for these streets is Rs 401 per sq.ft, which is the same as the guideline value for Akshaya Nagar. Below are the guideline values for other streets in Malliyankaranai:

• Anna Nagar: Rs 401 per sq.ft (2024)
• Arunachalapillai Chatiram: Rs 401 per sq.ft (2024)
• Arunachala PillaiChatiram Kalani: Rs 300 per sq.ft (2024)
• A.V.Avenu: Rs 250 per sq.ft (2024)
• Balaji Nagar: Rs 250 per sq.ft (2024)
• Chellammal Nagar: Rs 401 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 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total cost for these fees to Rs 36,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akshaya Nagar?

The Akshaya Nagar area is covered by the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Malliyankaranai. It serves as a benchmark for assessing the value of the property, ensuring that the sale price is in line with the established rates for the area.

When registering a property, buyers and sellers must consider the guideline value as it directly influences the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Akshaya Nagar?

The current guideline value of Akshaya Nagar is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 401 per sq.ft in 2024. There were no figures recorded for 2002, 2003, and 2007.

What is the land classification for Akshaya Nagar?

The land classification for Akshaya Nagar is Residential Special Type - II, which indicates the type of development permitted in the area.

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

The stamp duty for property in Akshaya Nagar is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 36,090 based on the current guideline value.

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

The Uthiramerur Sub Registrar Office covers Akshaya Nagar and is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.