Guideline Value for Akshayam Avenue

Akshayam Avenue guideline value

The current guideline value of Akshayam Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Industries Special Type - I.

How the guideline value of Akshayam Avenue has changed

The guideline value for Akshayam Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 to 2024 revision reflects a 10% increase, while the jump from 2017 to 2023 shows a substantial rise of 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Akshayam Avenue's 2024 figure above this median.

• Akila Avenue: Rs 2,700 per sq.ft (2024)
• Aiswarya Garden Extension 3rd Cross Street: Rs 4,300 per sq.ft (2024)
• Aadhinath Avenue: Rs 2,350 per sq.ft (2024)
• Anantha Nagar: Rs 2,700 per sq.ft (2024)
• Anjaneyar Koil Street: Rs 2,700 per sq.ft (2024)
• Annai Ahalyaa: Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Akshayam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. 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 Akshayam Avenue?

The Sub Registrar Office that covers Akshayam Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vengaivasal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, which can significantly impact the total expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of Akshayam Avenue?

The current guideline value of Akshayam Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Akshayam Avenue?

Akshayam Avenue is classified as Industries Special Type - I, which indicates its suitability for specific industrial activities.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Akshayam Avenue?

The stamp duty for properties in Akshayam Avenue is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.