Guideline Value for Akbar Sahib Street

Akbar Sahib Street guideline value

The current guideline value of Akbar Sahib Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Mixed Type - II land.

How the guideline value of Akbar Sahib Street has changed

The guideline value for Akbar Sahib Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,560 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, it decreased to Rs 4,690 per sq.ft in the 2017 revision. The 2023 revision saw a notable increase to Rs 7,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 7,700 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 394%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, positioning Akbar Sahib Street's 2024 figure above this median.

• Alangatha Pillai Street: Rs 6,600 per sq.ft (2024)
• Agathimuthan Street: Rs 5,500 per sq.ft (2024)
• Adhipattan Street: Rs 16,400 per sq.ft (2024)
• Adhikesavan Street: Rs 7,700 per sq.ft (2024)
• Adam Salai (Swami Sivanandha Salai): Rs 13,200 per sq.ft (2024)
• Ameerunissa Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Akbar Sahib Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. 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 details.

Which Sub Registrar Office covers Akbar Sahib Street?

The Sub Registrar Office that covers Akbar Sahib Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Akbar Sahib Street?

The current guideline value of Akbar Sahib Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 394% over the years.

What is the median guideline value for streets in Triplicane?

The median guideline value for the 415 streets in Triplicane is Rs 6,600 per sq.ft, with Akbar Sahib Street's current value above this median.

What are the stamp duty and registration fees for properties in Akbar Sahib Street?

For a 1,000 sq.ft property, the total guideline value is Rs 77,00,000, with stamp duty at Rs 5,39,000 and registration fees at Rs 1,54,000, totaling Rs 6,93,000.

Where can I find the Sub Registrar Office for Akbar Sahib Street?

The Sub Registrar Office for Akbar Sahib Street is located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.