Guideline Value for Adam Nagar 2nd Street

Adam Nagar 2nd Street guideline value

The current guideline value of Adam Nagar 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - II.

How the guideline value of Adam Nagar 2nd Street has changed

The guideline value for Adam Nagar 2nd 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 rose to Rs 570 per sq.ft in 2007, reflecting a substantial increase of 265%. By 2017, the value further escalated to Rs 1,675 per sq.ft, a remarkable 194% jump from the previous revision. The 2023 revision set the guideline value at Rs 2,500 per sq.ft, which was a 49% increase from 2017.

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

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, positioning Adam Nagar 2nd Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Adam Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to 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 fees to Rs 2,47,500. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Adam Nagar 2nd Street?

The Sub Registrar Office that covers Adam Nagar 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that the property is registered at the current guideline value to comply with local regulations.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value, as it can significantly impact the overall costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Adam Nagar 2nd Street?

The current guideline value of Adam Nagar 2nd 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 increased from Rs 138 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1,893% over the years.

What is the land classification for Adam Nagar 2nd Street?

The land classification for Adam Nagar 2nd Street is Commercial Class I Type - II.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Adam Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,92,500 at the current guideline value.