Guideline Value for Akshayam Diamond Avenue

Akshayam Diamond Avenue guideline value

The current guideline value of Akshayam Diamond Avenue is Rs 4,130 per sq.ft, effective from 1 July 2024. This property is located in Kovilancheri village under the Tambaram Joint 1 SRO, classified as Mixed Type - I land.

How the guideline value of Akshayam Diamond Avenue has changed

The guideline value for Akshayam Diamond Avenue has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which set the value at Rs 2,500 per sq.ft. This was followed by a significant increase to Rs 3,750 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 has further increased the guideline value to Rs 4,130 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the current 2024 figure, there has been an increase of 65%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kovilancheri

Kovilancheri village has 13 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,130 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, placing Akshayam Diamond Avenue's 2024 figure above this median.

• Aiswarya Nagar: Rs 1,660 per sq.ft (2024)
• Bhavani Ngar: Rs 1,100 per sq.ft (2024)
• Durapathyamman Nagar: Rs 1,100 per sq.ft (2024)
• El Castillo: Rs 4,110 per sq.ft (2024)
• Elite Crystal Gate: Rs 2,750 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Akshayam Diamond Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,130 per sq.ft, the total guideline value amounts to Rs 41,30,000. The stamp duty at 7% would be Rs 2,89,100, and the registration fee at 2% would be Rs 82,600, bringing the total to Rs 3,71,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Akshayam Diamond Avenue?

The Sub Registrar Office that covers Akshayam Diamond Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can also find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilancheri. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with legal requirements during property transactions. It is essential to refer to the latest figures to accurately assess the financial implications of a property deal.

Frequently asked questions

What is the current guideline value of Akshayam Diamond Avenue?

The current guideline value of Akshayam Diamond Avenue is Rs 4,130 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2017 to Rs 4,130 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What are the stamp duty and registration fees for properties in Akshayam Diamond Avenue?

For a property valued at Rs 41,30,000, the stamp duty would be Rs 2,89,100 and the registration fee would be Rs 82,600, totaling Rs 3,71,700.

Which Sub Registrar Office covers the Akshayam Diamond Avenue area?

The Tambaram Joint 1 Sub Registrar Office covers Akshayam Diamond Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Akshayam Diamond Avenue?

Akshayam Diamond Avenue is classified as Mixed Type - I land according to the local land classification regulations.