Guideline Value for Akash Nagar

Akash Nagar guideline value

The current guideline value of Akash Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Akash Nagar has changed

The guideline value for Akash Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 1,206 per sq.ft, indicating a significant increase of 49% to the 2023 figure. The overall increase from the 2017 revision to the 2024 revision is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making Akash Nagar's 2024 figure of Rs 1,980 per sq.ft below the median.

• Agraharam Road: Rs 2,860 per sq.ft (2024)
• Annai Therasa Street: Rs 2,200 per sq.ft (2024)
• Anna Street (ward 5): Rs 2,750 per sq.ft (2024)
• Anna Street (ward 9): Rs 2,750 per sq.ft (2024)
• Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Balaji Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Akash Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. 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 Akash Nagar?

The Sub Registrar Office that covers Akash Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kerugambakkam, as it determines the base value for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Akash Nagar?

The current guideline value of Akash Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

In recent years, the guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is a total increase of 64% over this period.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Akash Nagar?

The Pammal Sub Registrar Office handles registrations for Akash Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Akash Nagar?

Akash Nagar is classified as Residential Class II Type - II, which indicates its zoning for residential purposes.