Guideline Value for Akathiyar Avenue

Akathiyar Avenue guideline value

The current guideline value of Akathiyar Avenue is Rs 800 per sq.ft. This street is located in Vengadamangalam village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Akathiyar Avenue has changed

The guideline value of Akathiyar Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 300% increase. However, by the 2017 revision, the value dropped to Rs 536 per sq.ft, reflecting a decrease of 33% from the previous revision.

In the latest 2023 revision, the guideline value was revised to Rs 800 per sq.ft, showing an increase of 49% from the 2017 figure. Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 300%. The register does not have figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific guideline values provided for other streets in Vengadamangalam. Akathiyar Avenue is the only street mentioned under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Akathiyar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, while the registration fee at 2% would be Rs 16,000. Together, the total fee would be Rs 72,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akathiyar Avenue?

The Sub Registrar Office that covers Akathiyar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Vengadamangalam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the correct amount based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Akathiyar Avenue?

The current guideline value of Akathiyar Avenue is Rs 800 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Akathiyar Avenue?

The land classification for Akathiyar Avenue is Residential Special Type - II.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Akathiyar Avenue?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For instance, a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft would incur a stamp duty of Rs 56,000.