Guideline Value for ADYAR GATE CLUB ROAD

Adyar Gate Club Road guideline value

The current guideline value of Adyar Gate Club Road is Rs 25,300 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Special Type - I.

How the guideline value of Adyar Gate Club Road has changed

The guideline value for Adyar Gate Club Road has undergone several revisions over the years. The earliest revision available is from 2012, where the value was Rs 23,000 per sq.ft. In 2017, this figure decreased to Rs 15,410 per sq.ft, reflecting a decline of 33%. However, the value significantly rose in 2023 to Rs 23,000 per sq.ft, and then further increased by 10% to reach the current value of Rs 25,300 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a modest increase of 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing the 2024 figure for Adyar Gate Club Road above this median.

• Adanjan Mudali Street: Rs 8,800 per sq.ft (2024)
• Adam Street: Rs 8,800 per sq.ft (2024)
• Abraham Street: Rs 8,800 per sq.ft (2024)
• Abiramapuram Street (Subramaniam Street): Rs 17,600 per sq.ft (2024)
• Abiramapuram East 3rd Street: Rs 17,600 per sq.ft (2024)
• Abiramapuram East 2nd Street: Rs 17,600 per sq.ft (2024)

Stamp duty and registration fee for property in Adyar Gate Club Road

For a 1,000 sq.ft plot at the current guideline value of Rs 25,300 per sq.ft, the total guideline value amounts to Rs 2,53,00,000. The stamp duty, charged at 7%, would be Rs 17,71,000, while the registration fee at 2% would be Rs 5,06,000. Together, these fees total Rs 22,77,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adyar Gate Club Road?

The Sub Registrar Office that covers Adyar Gate Club Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process. When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is officially recorded.

Additionally, the guideline value helps maintain transparency in property transactions. It provides a standardized reference point for both buyers and sellers, allowing them to understand the financial implications of their property dealings in Mylapore.

Frequently asked questions

What is the current guideline value of Adyar Gate Club Road?

The current guideline value of Adyar Gate Club Road is Rs 25,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 23,000 per sq.ft in 2023 to Rs 25,300 per sq.ft in 2024, marking a 10% increase. It was Rs 15,410 per sq.ft in 2017, which shows a 49% increase to the 2023 figure.

What is the land classification of Adyar Gate Club Road?

Adyar Gate Club Road is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 2,53,00,000, the stamp duty would be Rs 17,71,000 and the registration fee would be Rs 5,06,000, totaling Rs 22,77,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Adyar Gate Club Road located?

The Sub Registrar Office for Adyar Gate Club Road is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.