Guideline Value for ADP Avenue

ADP Avenue guideline value

The current guideline value of ADP Avenue in Vengambakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Mixed Special Type - I.

How the guideline value of ADP Avenue has changed

The guideline value for ADP Avenue has seen several revisions over the years. In the 2017 revision, the value was set at Rs 2,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing ADP Avenue's 2024 figure above this median.

• Akb Fortune: Rs 2,200 per sq.ft (2024)
• A.K.B. Green Fields: Rs 3,300 per sq.ft (2024)
• Annai Sathiya Street: Rs 550 per sq.ft (2024)
• Anna Main Road: Rs 1,160 per sq.ft (2024)
• Anna Main Road (Cross Street): Rs 550 per sq.ft (2024)
• Anna Main Road(Vengampakkam colony): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in ADP Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ADP Avenue?

The Sub Registrar Office that covers ADP Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Vengambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer or seller engages in a transaction, the guideline value helps in assessing the financial implications of the sale. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of ADP Avenue?

The current guideline value of ADP Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,000 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 65% over this period.

What are the other streets in Vengambakkam with their guideline values?

Other streets in Vengambakkam include Akb Fortune at Rs 2,200 per sq.ft, A.K.B. Green Fields at Rs 3,300 per sq.ft, and Annai Sathiya Street at Rs 550 per sq.ft, among others.

What are the stamp duty and registration fees for properties in ADP Avenue?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for ADP Avenue located?

The Sub Registrar Office for ADP Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.