Guideline Value for Akshaya Town

Akshaya Town guideline value

The current guideline value of Akshaya Town is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Sriperumbudur A village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Akshaya Town has changed

In the 2017 revision, the guideline value was set at Rs 670 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,000 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%. The latest revision in 2024 has maintained the guideline value at Rs 1,000 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value of Akshaya Town is above this median.

• Alamel Avenue: Rs 800 per sq.ft (2024)
• A L S Nagar: Rs 700 per sq.ft (2024)
• Ahamed Moideeen Street: Rs 1,200 per sq.ft (2024)
• Agobilamada Lane: Rs 700 per sq.ft (2024)
• Adhilakshmi nagar: Rs 700 per sq.ft (2024)
• Adhikesava Perumal Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Akshaya Town

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total Rs 90,000. 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 more details.

Which Sub Registrar Office covers Akshaya Town?

The Sub Registrar Office that covers Akshaya Town is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Sriperumbudur A. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Akshaya Town?

The current guideline value of Akshaya Town is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft since the 2023 revision. It increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, marking a 49% increase over that period.

What is the land classification for Akshaya Town?

Akshaya Town is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for property in Akshaya Town?

The stamp duty rate for property transactions in Akshaya Town is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where is the Sub Registrar Office for Akshaya Town located?

The Sub Registrar Office for Akshaya Town is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.