Guideline Value for ADIMOOLAM 1ST STREET

Adimoolam 1st Street guideline value

The current guideline value of Adimoolam 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village under the Chennai South Joint I SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Adimoolam 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, representing a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 1,650 per sq.ft, marking a rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai village has 749 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Adimoolam 1st Street.

• Adimoolam 2nd Street: Rs 1,650 per sq.ft (2024)
• Adimoolam Nagar: Rs 1,650 per sq.ft (2024)
• Adipuriswarar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Adipuriswarar 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Adipuriswarar Koil Street: Rs 1,650 per sq.ft (2024)
• Adthavan Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Adimoolam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these charges to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Adimoolam 1st Street?

The Sub Registrar Office that covers Adimoolam 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, 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 government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Adimoolam 1st Street?

The current guideline value of Adimoolam 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then to Rs 1,650 per sq.ft in 2024. This represents a decline of 33% from 2012 to 2017, followed by a significant increase of 64% from 2017 to 2024.

What is the land classification of Adimoolam 1st Street?

Adimoolam 1st Street falls under the Residential Class IV Type - I land classification. This classification is important for determining the usage and regulations applicable to the property.

What are the stamp duty and registration fees for property in Adimoolam 1st Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total stamp duty and registration fees would amount to Rs 1,48,500.

Which office handles property registrations for Adimoolam 1st Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Adimoolam 1st Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.