Guideline Value for Akbar Square 4th Street

Akbar Square 4th Street guideline value

The current guideline value of Akbar Square 4th 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 4th Street has changed

The guideline value for Akbar Square 4th Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, the value then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. The latest revision in 2024 has raised the value to Rs 2,700 per sq.ft, reflecting an increase of 61% from the 2017 figure.

There are no figures available for the revisions in 2023, 2003, and 2002 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for Akbar Square 4th Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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 to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akbar Square 4th Street?

The Sub Registrar Office covering Akbar Square 4th 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 in the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value is used to calculate the stamp duty, ensuring that the fees are appropriately aligned with the registered value of the property. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Akbar Square 4th Street?

The current guideline value of Akbar Square 4th 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, reflecting an overall increase of 170% over the years.

What is the land classification for Akbar Square 4th Street?

Akbar Square 4th Street is classified as Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.