Guideline Value for Akbar Square 1st Street

Akbar Square 1st Street guideline value

The current guideline value of Akbar Square 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO and is classified as Residential Class II Type - I.

How the guideline value of Akbar Square 1st Street has changed

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 150% rise. However, the 2017 revision saw a decrease to Rs 1,675 per sq.ft, reflecting a 33% drop from the previous figure. The most recent revision in 2024 has brought the guideline value back up to Rs 2,700 per sq.ft, representing a 61% increase from the 2017 figure.

It is important to note that there are no figures available for Akbar Square 1st Street in the revisions for 2023, 2003, and 2002.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Akbar Square 1st Street is below this median.

• Akbar Square 2nd Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 3rd Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 4th Street: Rs 2,700 per sq.ft (2024)
• Alagiri Street: Rs 2,700 per sq.ft (2024)
• Agatheeswarar Nagar: Rs 2,700 per sq.ft (2024)
• Agasthiar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Akbar Square 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total charges Rs 2,43,000. It is essential 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 Akbar Square 1st Street?

The Sub Registrar Office that covers Akbar Square 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a reference point used during property registration in Kolathur. It helps determine the stamp duty and registration fees that must be paid when buying or selling a property.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Akbar Square 1st Street?

The current guideline value of Akbar Square 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 1,000 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2012, then dropping to Rs 1,675 per sq.ft in 2017, and finally rising to Rs 2,700 per sq.ft in 2024.

What is the land classification for Akbar Square 1st Street?

Akbar Square 1st Street is classified as Residential Class II Type - I.

Which office handles registrations for Akbar Square 1st Street?

The Sembiam Sub Registrar Office handles registrations for Akbar Square 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, with Akbar Square 1st Street's value being below this median at Rs 2,700 per sq.ft.