Guideline Value for Akbar Square 3rd Street

Akbar Square 3rd Street guideline value

The current guideline value of Akbar Square 3rd 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 3rd Street has changed

The guideline value for Akbar Square 3rd Street has undergone several revisions over the years. The oldest recorded revision was in 2007, where the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which represents an increase of 61% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 170%.

There are no figures available for the revisions in 2023, 2003, and 2002 for Akbar Square 3rd Street.

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 guideline value for these streets is Rs 3,300 per sq.ft, which means that the current value of Akbar Square 3rd Street is below this median.

• Akbar Square 2nd Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 4th Street: Rs 2,700 per sq.ft (2024)
• Akbar Square 1st 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 3rd 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, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akbar Square 3rd Street?

The Sub Registrar Office that covers Akbar Square 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Akbar Square 3rd Street?

The current guideline value of Akbar Square 3rd 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 170%.

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 2nd Street, Akbar Square 4th Street, Alagiri Street, Agatheeswarar Nagar, and Agasthiar Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles the registration of properties in the area.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.