Guideline Value for ADHIVASI NAGAR

Adhivasi Nagar guideline value

The current guideline value of Adhivasi Nagar, located in Melavalam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Adhivasi Nagar has changed

Over the years, the guideline value of Adhivasi Nagar has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased to Rs 100 per sq.ft in 2012. However, there was a significant drop in the 2017 revision, where it was adjusted to Rs 67 per sq.ft. The value then rose dramatically to Rs 200 per sq.ft in both the 2023 and 2024 revisions, representing a 199% increase from 2017 to 2023 and a 0% change from 2023 to 2024. The register has no figure for this street in 2002 and 2003.

From the 2007 revision to the current 2024 revision, the overall change in guideline value is an increase of 233%. The revisions reflect the evolving property landscape in the area, with the most recent figures indicating a stable value since 2023.

Guideline values in Melavalam

In Melavalam village, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. Adhivasi Nagar's 2024 figure is below this median, indicating its relative position in the local market.

• Anbu Nagar: Rs 200 per sq.ft (2024)
• A.V. Nagar: Rs 200 per sq.ft (2024)
• Central Government Staffs Co-Op Nagar: Rs 200 per sq.ft (2024)
• M.S.K. Nagar: Rs 200 per sq.ft (2024)
• Ramya Reng & Ramya Ramaa: Rs 200 per sq.ft (2024)
• R. R. Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Adhivasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, while the registration fee at 2% would be Rs 4,000, resulting in a total cost of Rs 18,000. It is important to note that the 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 assistance.

Which Sub Registrar Office covers Adhivasi Nagar?

The Sub Registrar Office that covers Adhivasi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Melavalam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value during negotiations to ensure compliance with local regulations.

When a property is sold, the registration process involves calculating the stamp duty and registration fees based on the guideline value. This ensures that both parties are aware of the financial implications of the transaction, as these fees are mandatory for legal documentation.

Frequently asked questions

What is the current guideline value of Adhivasi Nagar?

The current guideline value of Adhivasi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 200 per sq.ft in 2024, representing an overall increase of 233% over the years.

What are the other streets in Melavalam with similar guideline values?

Other streets in Melavalam, such as Anbu Nagar, A.V. Nagar, and M.S.K. Nagar, also have a guideline value of Rs 200 per sq.ft as of 2024.

How is stamp duty calculated for properties in Adhivasi Nagar?

Stamp duty for properties in Adhivasi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 14,000.

Where can I find the Sub Registrar Office for Adhivasi Nagar?

The Sub Registrar Office for Adhivasi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.