Guideline Value for Akbar Square 2nd Street

Akbar Square 2nd Street guideline value

The current guideline value of Akbar Square 2nd 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 2nd Street has changed

The guideline value for Akbar Square 2nd Street has seen several revisions over the years. The earliest recorded value was Rs 1,000 per sq.ft in 2007, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The latest revision in 2024 has brought the value back up to Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 170%.

It is important to note that there are no recorded figures for Akbar Square 2nd Street in the years 2023, 2003, and 2002. This lack of data indicates that the guideline value for this street was not updated during those revisions.

Guideline values in Kolathur

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

• Akbar Square 1st 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 2nd 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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 precise calculations.

Which Sub Registrar Office covers Akbar Square 2nd Street?

The Sub Registrar Office that covers Akbar Square 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a reference point used during the registration of property transactions in Kolathur. It helps determine the stamp duty and registration fees that need to be paid, ensuring that these fees are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value serves as a basis for calculating the costs associated with the transaction. It is crucial for both buyers and sellers to be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Akbar Square 2nd Street?

The current guideline value of Akbar Square 2nd 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 2,700 per sq.ft include Akbar Square 1st Street, Akbar Square 3rd Street, Akbar Square 4th Street, Alagiri Street, Agatheeswarar Nagar, and Agasthiar Street.

What is the registration fee for property in Akbar Square 2nd Street?

The registration fee for property in Akbar Square 2nd Street is calculated based on the guideline value. For example, for a 1,000 sq.ft plot, the registration fee would be Rs 54,000 at the current rate.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more details on how to locate your SRO online.