Guideline Value for ADAM STREET

Adam Street guideline value

The current guideline value of Adam Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village under the Mylapore SRO, classified as Residential Class III Type - III.

How the guideline value of Adam Street has changed

The guideline value for Adam Street has undergone several revisions over the years. In 2002, the value was Rs 969 per sq.ft, which increased to Rs 1,077 per sq.ft in 2003, marking an 11% rise. The value saw another increase to Rs 1,540 per sq.ft in 2007, representing a 43% change. Following this, the value surged significantly to Rs 8,000 per sq.ft in 2012, a remarkable 419% increase.

However, the value decreased to Rs 5,360 per sq.ft in 2017, showing a decline of 33%. The next revision in 2023 set the value at Rs 8,000 per sq.ft, which then rose to the current value of Rs 8,800 per sq.ft in 2024, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 808%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is equal to the current value of Adam Street.

• Adanjan Mudali Street: Rs 8,800 per sq.ft (2024)
• Abraham Street: Rs 8,800 per sq.ft (2024)
• Adyar Gate Club Road: Rs 25,300 per sq.ft (2024)
• Abiramapuram Street (Subramaniam Street): Rs 17,600 per sq.ft (2024)
• Abiramapuram East 3rd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 2nd Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Adam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total cost Rs 7,92,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adam Street?

The Sub Registrar Office that covers Adam Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Adam Street?

The current guideline value of Adam Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 969 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 808% over this period.

What is the land classification for Adam Street?

Adam Street is classified as Residential Class III Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property in Adam Street?

For a 1,000 sq.ft plot at the current guideline value, the total cost would be Rs 7,92,000, which includes stamp duty and registration fees based on the guideline value.

Which office handles registrations for Adam Street?

The Mylapore Sub Registrar Office handles registrations for Adam Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.