Guideline Value for ADINATH NAGAR

Adinath Nagar guideline value

The current guideline value of Adinath Nagar, located in Manjampakkam village under the Redhills SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Adinath Nagar has changed

The guideline value for Adinath Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then dropped to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and most recently, to Rs 1,650 per sq.ft in 2024. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, it rose by 49% from 2017 to 2023, and from 2023 to 2024, there was an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Manjampakkam

In Manjampakkam, there are 11 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 1,650 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Adinath Nagar.

• C.M. Nagar: Rs 1,650 per sq.ft (2024)
• Ellaiyamman Koil Street: Rs 1,000 per sq.ft (2024)
• Ellatharisu Salai: Rs 1,000 per sq.ft (2024)
• Ennore Salai: Rs 1,650 per sq.ft (2024)
• Kamarajar Salai: Rs 1,650 per sq.ft (2024)
• Kamarajar Salai 1st Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Adinath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total 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, bringing the total to 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 precise calculations.

Which Sub Registrar Office covers Adinath Nagar?

The Sub Registrar Office that covers Adinath Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Manjampakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This value helps in maintaining transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Adinath Nagar?

The current guideline value of Adinath 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, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Adinath Nagar?

Adinath Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Adinath 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.

Which office handles registrations for Adinath Nagar?

The Redhills Sub Registrar Office handles registrations for properties in Adinath Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.