Guideline Value for ADISESHANAGAR 1ST STREET

Adiseshanagar 1st Street guideline value

The current guideline value of Adiseshanagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Adiseshanagar 1st Street has changed

The guideline value for Adiseshanagar 1st Street has undergone several revisions over the years. In 2003, the value was Rs 558 per sq.ft, which increased to Rs 600 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 3,500 per sq.ft in 2012, but then dropped to Rs 2,345 per sq.ft in 2017. The value then increased substantially to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,800 per sq.ft from the 2024 revision. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%. The rise from 2007 to 2012 was remarkable at 483%, while the increase from 2003 to 2007 was a modest 8%. Overall, from 2003 to 2024, the guideline value has increased by 581%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value among these streets is Rs 2,700 per sq.ft, placing Adiseshanagar 1st Street's 2024 figure above this median.

• Adiseshanagar 2nd Street: Rs 3,800 per sq.ft (2024)
• Adiseshanagar 3rd Street: Rs 3,800 per sq.ft (2024)
• Adiseshanagar 4th Street: Rs 3,800 per sq.ft (2024)
• Adiseshanagar 5th Street: Rs 3,800 per sq.ft (2024)
• Adiseshanagar 6th Street: Rs 3,800 per sq.ft (2024)
• Adiseshanagar Main Road: Rs 3,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adiseshanagar 1st Street?

The Sub Registrar Office that covers Adiseshanagar 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Perambur. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. The guideline value ensures that the government receives a fair share of taxes based on the property's value.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Adiseshanagar 1st Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 558 per sq.ft in 2003 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 581% over this period.

What is the land classification of Adiseshanagar 1st Street?

Adiseshanagar 1st Street is classified as Residential Class II Type - II.

Where is the Purasaivakkam Sub Registrar Office located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What fees are associated with property transactions in Adiseshanagar 1st Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.