Guideline Value for Akrakara Street Main Road

Akrakara Street Main Road guideline value

The current guideline value of Akrakara Street Main Road is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Akrakara Street Main Road has changed

Looking back at the revisions, the guideline value for Akrakara Street Main Road was Rs 1,100 per sq.ft in 2023, showing an increase of 9% to the current value of Rs 1,200 per sq.ft in 2024. Prior to that, in 2017, the value was Rs 737 per sq.ft, which reflects a significant increase of 49% to reach Rs 1,100 per sq.ft in 2023. There are no figures available for the revisions in 2002, 2003, and 2007, and in 2012, the value was Rs 1,100 per sq.ft, which was a decrease of 33% from Rs 737 per sq.ft in 2017.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 9%. This steady change illustrates the evolving landscape of property values in this area.

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, making Akrakara Street Main Road's 2024 figure equal to this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is charged at 7%, which totals Rs 84,000, and the registration fee is 2%, amounting to Rs 24,000. Together, the total cost for stamp duty and registration fee is 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.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akrakara Street Main Road?

The Akrakara Street Main Road is covered by 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 plays a crucial role during the registration process of property transactions in Venkatapuram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on an official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it reflects the government’s assessment of property worth in the area. This value is updated periodically, and understanding these changes can help in making informed decisions during transactions.

Frequently asked questions

What is the current guideline value of Akrakara Street Main Road?

The current guideline value of Akrakara Street Main Road 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 seen various changes: from Rs 1,100 per sq.ft in 2023 to Rs 1,200 per sq.ft in 2024, a 9% increase. It was Rs 737 per sq.ft in 2017, which increased by 49% to Rs 1,100 in 2023.

What is the land classification for Akrakara Street Main Road?

Akrakara Street Main Road is classified as Residential Special Type - I, indicating its suitability for residential development.

What is the registration fee for properties in this area?

The registration fee is calculated at 2% of the guideline value. For example, for a property valued at Rs 12,00,000, the registration fee would be Rs 24,000.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details by visiting the provided link.