Guideline Value for Akrakara Street 1st Street (Left)

Akrakara Street 1st Street (Left) guideline value

The current guideline value of Akrakara Street 1st Street (Left) is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village under the Kunrathur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Akrakara Street 1st Street (Left) has changed

Starting from the 2012 revision, the guideline value was Rs 1,100 per sq.ft. It then decreased to Rs 737 per sq.ft in the 2017 revision, marking a decline of 33%. The value increased significantly to Rs 1,100 per sq.ft in the 2023 revision, followed by another increase to Rs 1,200 per sq.ft in the 2024 revision, which represents a 9% rise from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 9% increase in the guideline value. The current figure of Rs 1,200 per sq.ft aligns with the median value of Rs 1,200 per sq.ft for the 68 streets in Venkatapuram under the Kunrathur SRO.

Guideline values in Venkatapuram

In Venkatapuram, the guideline values range from Rs 1,100 to Rs 1,200 per sq.ft as of the 2024 revision. Akrakara Street 1st Street (Left) holds a guideline value equal to the median of Rs 1,200 per sq.ft. Below are the guideline values for other streets in Venkatapuram:

• Akrakara Street: Rs 1,200 per sq.ft (2024)
• Akrakara Street 2nd Street (Left): Rs 1,200 per sq.ft (2024)
• Akrakara Street Main Road: Rs 1,200 per sq.ft (2024)
• Adhi Nalleeswarar Street: Rs 1,200 per sq.ft (2024)
• Adhi Nalleeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Deivasikamani Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Akrakara Street 1st Street (Left)

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 amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that 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 Akrakara Street 1st Street (Left)?

The Akrakara Street 1st Street (Left) falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Venkatapuram. It serves as a benchmark for determining the minimum price at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the buyer typically pays stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Akrakara Street 1st Street (Left)?

The current guideline value of Akrakara Street 1st Street (Left) 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 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the registration office for Akrakara Street 1st Street (Left)?

The registration office for Akrakara Street 1st Street (Left) is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,08,000.

How does the guideline value affect property transactions?

The guideline value acts as a minimum price for property registration. Buyers and sellers must consider this value to comply with local regulations and ensure the correct amount is paid for stamp duty and registration fees.