Guideline Value for Loop Road

Loop Road guideline value

The current guideline value of Loop Road in Acharapakkam village is Rs 400 per sq.ft, effective from 1 July 2024. This street falls under the Acchirapakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Loop Road has changed

The guideline value for Loop Road has seen several revisions over the years. The register shows no figures for the years 2002 and 2003. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in 2012, marking a 50% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 201 per sq.ft. From 2017 to 2023, the value saw a significant increase of 99%, reaching Rs 400 per sq.ft, a figure that remained unchanged in the 2024 revision.

Overall, from 2007 to 2024, the guideline value has increased by 100%, reflecting the changes in the local real estate landscape. The current value of Rs 400 per sq.ft aligns with the median guideline value for the 61 streets in Acharapakkam under the Acchirapakkam SRO, which ranges from Rs 250 to Rs 600 per sq.ft.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value. The current value of Loop Road is equal to the median of Rs 400 per sq.ft. Below are the guideline values for other streets in Acharapakkam:

• Loop Road (Bazaar Street): Rs 400 per sq.ft (2024)
• Mada Koil Street Ward 9: Rs 250 per sq.ft (2024)
• Malai Nagar: Rs 400 per sq.ft (2024)
• Markazhi Nagar: Rs 268 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)
• Kollaimedu Colony: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Loop Road

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loop Road?

The Loop Road falls under the jurisdiction of the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Acharapakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for ensuring that the transaction is recorded accurately and fairly in the official registry.

When selling property, the guideline value helps establish a baseline for the sale price, ensuring that all parties are aware of the minimum value recognized by the government. This transparency helps facilitate smoother transactions and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Loop Road?

The current guideline value of Loop Road in Acharapakkam is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, reflecting a total increase of 100% over the years.

What are the other streets in Acharapakkam with their guideline values?

Other streets in Acharapakkam include Mada Koil Street Ward 9 at Rs 250 per sq.ft, Malai Nagar at Rs 400 per sq.ft, and Kothandaramar Nagar Ward 3 at Rs 350 per sq.ft, among others.

What fees are associated with purchasing property in Loop Road?

When purchasing property in Loop Road, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Loop Road located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.