Guideline Value for Akashya Nagar

Akashya Nagar guideline value

The current guideline value of Akashya Nagar, located in Kolapakkam village under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Akashya Nagar has changed

The guideline value for Akashya Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft. This figure increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 raised the guideline value further to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Akashya Nagar.

• Agatheeswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Ambetkar Street: Rs 1,650 per sq.ft (2024)
• Amman Koil Street: Rs 1,650 per sq.ft (2024)
• Annai Therasa Nagar: Rs 2,200 per sq.ft (2024)
• Anna Main Road (ward 2): Rs 2,750 per sq.ft (2024)
• Anna Main Road (ward 4): Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Akashya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Akashya Nagar?

The Sub Registrar Office covering Akashya 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolapakkam. 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 sold, the guideline value is used to ensure that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Akashya Nagar?

The current guideline value of Akashya Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification of Akashya Nagar?

Akashya Nagar is classified under Residential Class II Type - I land classification.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.