Guideline Value for Akshayam-II

Akshayam-II guideline value

The current guideline value of Akshayam-II is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Vallam village, under the Sriperumpudur SRO, and is classified as Residential Special Type - I.

How the guideline value of Akshayam-II has changed

The guideline value of Akshayam-II has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. The value increased significantly to Rs 600 per sq.ft in both the 2023 and 2024 revisions, marking a 79% increase from 2017 to 2023 and a 0% change from 2023 to 2024. The overall change from 2012 to 2024 is an increase of 20%.

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 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, with a median value of Rs 200 per sq.ft. The guideline value for Akshayam-II is above this median.

• Akshayam -III: 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-II

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, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Akshayam-II?

The Sub Registrar Office that covers Akshayam-II 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 Vallam

The guideline value plays a crucial role in property transactions in Vallam. It is used as a basis for calculating stamp duty and registration fees, which are mandatory when registering property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When purchasing or selling property, the guideline value helps determine the financial obligations associated with the transfer of ownership. This ensures that both parties are aware of the costs involved, based on the officially recorded value of the property.

Frequently asked questions

What is the current guideline value of Akshayam-II?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, and then increased to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification of Akshayam-II?

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

Where can I find the Sub Registrar Office for Akshayam-II?

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

How is stamp duty calculated for property in Akshayam-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, leading to a stamp duty of Rs 42,000.