Guideline Value for Akshyam -I

Akshyam -I guideline value

The current guideline value of Akshyam -I 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 Akshyam -I has changed

Over the years, the guideline value for Akshyam -I has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, reflecting a 79% rise. The 2023 revision maintained this value, showing no change into 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the current 2024 revision, there has been an increase of 20% in the guideline value.

Guideline values in Vallam

In Vallam village, 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 of Akshyam -I is above this median.

• Akshyam: Rs 600 per sq.ft (2024)
• Akshayam -III: Rs 600 per sq.ft (2024)
• Akshayam-II: 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 Akshyam -I

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Akshyam -I?

The Sub Registrar Office that covers Akshyam -I 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 during the registration of property transactions in Vallam. It is the value set by the government for the purpose of calculating stamp duty and registration fees, ensuring that these charges are based on a standardized valuation.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Akshyam -I?

The current guideline value of Akshyam -I 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, then increased to Rs 600 per sq.ft in both 2023 and 2024.

What is the land classification for Akshyam -I?

Akshyam -I is classified as Residential Special Type - I under the current guidelines.

Where is the Sub Registrar Office for Akshyam -I located?

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

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,00,000 would incur a stamp duty of Rs 42,000 at the rate of 7%.