Guideline Value for Adam Street

Adam Street guideline value

The current guideline value of Adam Street in Muthialpet village is Rs 5,500 per sq.ft, effective from the 2024 revision. This street falls under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Adam Street has changed

Since the 2007 revision, the guideline value of Adam Street has seen significant changes. In 2007, the value was Rs 2,000 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for Adam Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the guideline value of Adam Street.

• Aadiyapadham street@Asaiyappan street: Rs 4,900 per sq.ft (2024)
• Alwarchary lane: Rs 4,900 per sq.ft (2024)
• Angappa Naicken street 1st lane: Rs 5,500 per sq.ft (2024)
• Angappa Naicken street 2nd lane: Rs 5,500 per sq.ft (2024)
• Angappa Naicken street [ from Mannady street Junction to Ibrahim street Junction]: Rs 7,100 per sq.ft (2024)
• Angappa Naicken Street(from Mookar Nallamuthu Street to Post Office Junction): Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Adam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Adam Street?

The Sub Registrar Office that covers Adam Street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Muthialpet. It determines the minimum value at which a property can be sold, and the stamp duty is calculated based on this value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction, including registration fees and stamp duty. Buyers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Adam Street?

The current guideline value of Adam Street is Rs 5,500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value of Adam Street has changed significantly from Rs 2,000 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 175% from 2007 to 2024.

What is the land classification for Adam Street?

Adam Street is classified as Residential Class II Type - I under the Chennai North Joint I SRO.

What are the registration fees for property in Adam Street?

The registration fees for property in Adam Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Adam Street located?

The Sub Registrar Office for Adam Street is located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105, under the Chennai North Joint I SRO.