Guideline Value for Akchaya Nagar

Akchaya Nagar guideline value

The current guideline value of Akchaya Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Akchaya Nagar has changed

The guideline value for Akchaya Nagar has seen several revisions over the years. In 2007, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,200 per sq.ft, and the same value continues into the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 is an increase of 390%. It is worth noting that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which is the same as the current value for Akchaya Nagar.

• Abi Krishna Nagar Phase-II: Rs 1,300 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,200 per sq.ft (2024)
• Aathilakshmi Avenue: Rs 1,200 per sq.ft (2024)
• Ambujam Nagar: Rs 1,200 per sq.ft (2024)
• Ammakannu Nagar: Rs 1,200 per sq.ft (2024)
• Amma Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Akchaya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akchaya Nagar?

The Sub Registrar Office that covers Akchaya Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Madambakkam. It serves as the minimum value for registration purposes and is used to calculate stamp duty and registration fees when buying or selling property.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Akchaya Nagar?

The current guideline value of Akchaya Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, dropped to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft in the 2023 and 2024 revisions.

What is the land classification of Akchaya Nagar?

Akchaya Nagar is classified as Commercial Special Type - I.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property in Akchaya Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000, leading to a stamp duty of Rs 84,000.