Guideline Value for Akshayam -III

Akshayam -III guideline value

The current guideline value of Akshayam -III, located in Vallam village, under the Sriperumpudur SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Akshayam -III has changed

The guideline value for Akshayam -III has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value remained stable at Rs 600 per sq.ft in both the 2023 and 2024 revisions, reflecting a significant increase of 79% from 2017 to 2023, with no changes noted from 2023 to 2024.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the current 2024 guideline value, there has been a 20% increase.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median value is Rs 200 per sq.ft, placing Akshayam -III's 2024 figure above this median.

• Akshayam-II: Rs 600 per sq.ft (2024)
• Akshyam: Rs 600 per sq.ft (2024)
• Akshyam -I: Rs 600 per sq.ft (2024)
• Alliance villa Belvedere: Rs 1,950 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• B.K. Rajiv Town: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Akshayam -III

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees Rs 54,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akshayam -III?

The Akshayam -III area is covered by 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 Vallam

The guideline value plays a crucial role during the registration of property transactions in Vallam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers and sellers should ensure that the sale price is either equal to or above the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Akshayam -III?

The current guideline value of Akshayam -III is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2023 revision. It was Rs 335 per sq.ft in 2017 and Rs 500 per sq.ft in 2012.

What is the land classification for Akshayam -III?

Akshayam -III is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property in Akshayam -III?

For a 1,000 sq.ft plot, the total guideline value is Rs 6,00,000, leading to a stamp duty of Rs 42,000 and a registration fee of Rs 12,000, totaling Rs 54,000.

Where is the Sub Registrar Office for Akshayam -III located?

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