Guideline Value for Aikon City

Aikon City guideline value

The current guideline value of Aikon City, located in AagaramB village under the Sunguvarchattram SRO, is Rs 150 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Aikon City has changed

Since the 2017 revision, the guideline value for Aikon City has seen an increase. In 2017, the value was Rs 100 per sq.ft, which rose to Rs 150 per sq.ft in both the 2023 and 2024 revisions, reflecting a 50% increase over this period. Notably, there were no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

From the 2023 revision to the 2024 revision, the guideline value remained unchanged at Rs 150 per sq.ft, indicating a 0% change. Overall, comparing the 2017 and 2024 revisions, the guideline value has increased by 50%.

Guideline values in AagaramB

AagaramB village has a range of guideline values across its streets, with 10 streets under the Sunguvarchattram SRO carrying a 2024 figure from Rs 100 to Rs 374 per sq.ft. The median value for these streets is Rs 125 per sq.ft, positioning Aikon City's 2024 figure above this median.

• Agaram Colony: Rs 100 per sq.ft (2024)
• Annai Parasakthi Nagar: Rs 150 per sq.ft (2024)
• Dnh Sri Maheswari Avenue: Rs 350 per sq.ft (2024)
• Eden Garden Farm Land: Rs 100 per sq.ft (2024)
• Gangaiamman Kovil Street: Rs 100 per sq.ft (2024)
• Mettu Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Aikon City

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Aikon City?

The Sub Registrar Office that covers Aikon City is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in AagaramB. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in real estate dealings.

When buying or selling property, the guideline value affects the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Aikon City?

The current guideline value of Aikon City is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in both 2023 and 2024, reflecting a 50% increase over this period.

What are the other streets in AagaramB and their guideline values?

Other streets in AagaramB include Agaram Colony at Rs 100 per sq.ft, Annai Parasakthi Nagar at Rs 150 per sq.ft, and Dnh Sri Maheswari Avenue at Rs 350 per sq.ft, among others.

What fees are associated with buying property in Aikon City?

When buying property in Aikon City, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, on a 1,000 sq.ft plot, these fees would amount to Rs 13,500.

Which office handles property registrations for Aikon City?

The Sunguvarchattram Sub Registrar Office handles property registrations for Aikon City, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.