Guideline Value for ADIMOOLAM NAGAR

Adimoolam Nagar guideline value

The current guideline value of Adimoolam Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is part of Pallikaranai village under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Adimoolam Nagar has changed

The guideline value of Adimoolam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. The 2024 revision has increased the value to Rs 1,650 per sq.ft, marking a 64% increase from 2017. Overall, from the 2012 to 2024 revisions, the guideline value has seen a 10% increase.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes between the revisions highlight a significant fluctuation, particularly the drop from 2012 to 2017, which was a decrease of 33%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, which aligns with the current value for Adimoolam Nagar.

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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 more details.

Which Sub Registrar Office covers Adimoolam Nagar?

The Sub Registrar Office that covers Adimoolam Nagar 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 during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is referred to for calculating stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Adimoolam Nagar?

The current guideline value of Adimoolam Nagar 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 increased to Rs 1,650 per sq.ft in 2024. Overall, this represents a 10% increase from 2012 to 2024.

What is the land classification of Adimoolam Nagar?

Adimoolam Nagar is classified as Residential Class IV Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Adimoolam Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Adimoolam Nagar?

The Sub Registrar Office covering Adimoolam Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.