Guideline Value for ADIPURISWARAR KOIL STREET

Adipuriswarar Koil Street guideline value

The current guideline value of Adipuriswarar Koil 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 is classified as Residential Class IV Type - I.

How the guideline value of Adipuriswarar Koil Street has changed

The guideline value for Adipuriswarar Koil Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. However, the most recent 2024 revision saw a significant increase, bringing the value back up to Rs 1,650 per sq.ft.

Between the 2017 and 2024 revisions, there was an increase of 64%. Conversely, from 2012 to 2017, the value decreased by 33%. Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 10%. The register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the guideline value of Adipuriswarar Koil Street equal to this median.

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

For a 1,000 sq.ft plot at the current rate, the 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, totaling 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 details.

Which Sub Registrar Office covers Adipuriswarar Koil Street?

The Sub Registrar Office that covers Adipuriswarar Koil 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 is a crucial factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which properties can be sold or transferred, ensuring that transactions are conducted at a fair price.

When a buyer or seller approaches the Sub Registrar Office for registration, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Adipuriswarar Koil Street?

The current guideline value of Adipuriswarar Koil 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 increased to Rs 1,650 per sq.ft in 2024. The 2017 to 2024 revision saw a 64% increase.

What is the land classification of Adipuriswarar Koil Street?

Adipuriswarar Koil Street is classified as Residential Class IV Type - I, which indicates its suitability for residential purposes.

What are the stamp duty rates applicable for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Where can I find the Sub Registrar Office for Adipuriswarar Koil Street?

The Sub Registrar Office for Adipuriswarar Koil 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.