Guideline Value for Adam Nagar 1st Cross Street

Adam Nagar 1st Cross Street guideline value

The current guideline value of Adam Nagar 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO, with a land classification of Commercial Class I Type - II.

How the guideline value of Adam Nagar 1st Cross Street has changed

The guideline value for Adam Nagar 1st Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 138 per sq.ft, which increased to Rs 156 per sq.ft in 2003, marking a 13% rise. The value then jumped dramatically to Rs 570 per sq.ft in 2007, representing a 265% increase. Following this, the value rose to Rs 1,675 per sq.ft in 2017, a substantial increase of 194%. The next revision in 2023 set the value at Rs 2,500 per sq.ft, which was a 49% rise from the previous figure.

The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% increase from 2023. It is important to note that there is no figure for this street in the 2012 revision.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Adam Nagar 1st Cross Street above this median.

• Adam Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 4th Street: Rs 2,750 per sq.ft (2024)
• Adam Nagar 5th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Adam Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to Rs 2,47,500. It is important to note that the 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 Adam Nagar 1st Cross Street?

The Sub Registrar Office that covers Adam Nagar 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Pammal. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the transaction. The guideline value ensures that the property is assessed fairly for taxation purposes.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be sold. It is essential for both buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Adam Nagar 1st Cross Street?

The current guideline value of Adam Nagar 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 138 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1893% over this period.

What is the stamp duty on property in Adam Nagar 1st Cross Street?

The stamp duty on property in Adam Nagar 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Adam Nagar 1st Cross Street?

The Sub Registrar Office for Adam Nagar 1st Cross Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How can I calculate the registration fees for property in Pammal?

You can calculate the registration fees for property in Pammal using the stamp duty and registration fee calculator, which provides an easy way to estimate your costs based on the guideline value.