Guideline Value for Akrakara Street 2nd Street (Left)

Akrakara Street 2nd Street (Left) guideline value

The current guideline value of Akrakara Street 2nd 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, classified as Residential Special Type - I.

How the guideline value of Akrakara Street 2nd Street (Left) has changed

Over the years, the guideline value for Akrakara Street 2nd Street (Left) has seen several revisions. The 2012 revision set the value at Rs 1,100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 737 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,100 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to 2017, there was a decline of 33%. However, the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 9%.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is the same as the 2024 figure for Akrakara Street 2nd Street (Left).

• Akrakara Street 1st Street (Left): Rs 1,200 per sq.ft (2024)
• Akrakara Street Main Road: Rs 1,200 per sq.ft (2024)
• Akrakara Street: 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 2nd 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 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 further calculations.

Which Sub Registrar Office covers Akrakara Street 2nd Street (Left)?

The Sub Registrar Office that covers Akrakara Street 2nd Street (Left) is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Venkatapuram. It serves as a basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum value at which the property can be registered. This means that even if the sale price is lower, the stamp duty and registration fees will be calculated based on the guideline value, which protects the interests of the state.

Frequently asked questions

What is the current guideline value of Akrakara Street 2nd Street (Left)?

The current guideline value of Akrakara Street 2nd 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 several times, from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Akrakara Street 2nd Street (Left)?

Akrakara Street 2nd Street (Left) is classified as Residential Special Type - I.

What are the stamp duty rates applicable in Venkatapuram?

The stamp duty rate in Venkatapuram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.