Guideline Value for Akash Nagar

Akash Nagar guideline value

The current guideline value of Akash Nagar, located in Thandalam village under the Pammal SRO, is Rs 1,210 per sq.ft. This value is effective from the 2024 revision, which commenced on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Akash Nagar has changed

Over the years, the guideline value of Akash Nagar has seen several revisions. The 2017 revision set the value at Rs 737 per sq.ft, which was then increased to Rs 1,100 per sq.ft in the 2023 revision. The most recent 2024 revision raised the guideline value to Rs 1,210 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The significant changes reflect the evolving real estate landscape in the area, with a notable increase between each revision.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, which is the same as the current guideline value for Akash Nagar.

• Akash Nagar Aennex: Rs 1,210 per sq.ft (2024)
• Akash Nagar I: Rs 1,210 per sq.ft (2024)
• Akash Nagar II: Rs 1,210 per sq.ft (2024)
• Akash Nagar Thodarchi: Rs 1,210 per sq.ft (2024)
• Aishwaryam Garden: Rs 1,650 per sq.ft (2024)
• Alayam Phase - III: 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, resulting in a total of Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

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. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thandalam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the property is registered at a value recognized by the government. This helps in maintaining transparency in property transactions and ensures that all legal obligations are met during the sale.

Frequently asked questions

What is the current guideline value of Akash Nagar?

The current guideline value of Akash Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 737 per sq.ft to Rs 1,210 per sq.ft, which is an overall increase of 64%.

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

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700, and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

Which Sub Registrar Office covers Akash Nagar?

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

What other streets in Thandalam have the same guideline value?

Other streets in Thandalam that have the same guideline value of Rs 1,210 per sq.ft include Akash Nagar Aennex, Akash Nagar I, Akash Nagar II, and Akash Nagar Thodarchi.