Guideline Value for Adam Nagar 5th Street

Adam Nagar 5th Street guideline value

The current guideline value of Adam Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Commercial Class I Type - II.

How the guideline value of Adam Nagar 5th Street has changed

The guideline value for Adam Nagar 5th Street has undergone several revisions over the years. Starting from Rs 138 per sq.ft in 2002, it increased to Rs 156 per sq.ft in 2003, marking a rise of 13%. In 2007, the value saw a significant jump to Rs 570 per sq.ft, which was a 265% increase. The next revision in 2017 set the value at Rs 1,675 per sq.ft, reflecting a 194% increase from the previous figure. However, there is no figure available for this street in the 2012 revision.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,893%.

Guideline values in Pammal

In Pammal, there are a total of 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, making the 2024 figure for Adam Nagar 5th Street above this median.

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

Stamp duty and registration fee for property in Adam Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the guideline value totals Rs 27,50,000. The stamp duty at 7% amounts to Rs 1,92,500, and the registration fee at 2% is Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Adam Nagar 5th Street?

The Sub Registrar Office that covers Adam Nagar 5th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 critical factor during property transactions in Pammal. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When a property is sold, the guideline value is used to determine the official value for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are levied based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Adam Nagar 5th Street?

The current guideline value of Adam Nagar 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 138 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, which is an overall increase of 1,893%.

What is the land classification for Adam Nagar 5th Street?

Adam Nagar 5th Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the total fees would amount to Rs 2,47,500.