Guideline Value for Adampakkam 1st Main Street

Adampakkam 1st Main Street guideline value

The current guideline value of Adampakkam 1st Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Adampakkam 1st Main Street has changed

The guideline value for Adampakkam 1st Main Street has undergone several revisions over the years. In 2002, the value was Rs 300 per sq.ft, which increased to Rs 342 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 900 per sq.ft in 2007, and further increased to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024.

Notable changes between revisions include a 14% increase from 2002 to 2003, a 163% rise from 2003 to 2007, a 289% increase from 2007 to 2012, and a 33% decline from 2012 to 2017. The value then saw a 49% increase from 2017 to 2023, followed by an 11% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 1200%.

Guideline values in Adambakkam

In Adambakkam village, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is the same as the value for Adampakkam 1st Main Street. Below are other streets in Adambakkam:

• Adambakkam Main Road/Karunikar Street: Rs 5,500 per sq.ft (2024)
• Adampakkam 1st Street: Rs 3,900 per sq.ft (2024)
• Abraham Street: Rs 3,900 per sq.ft (2024)
• Agathiyar Street: Rs 3,900 per sq.ft (2024)
• Alikan Street: Rs 3,900 per sq.ft (2024)
• Amaravathi Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Adampakkam 1st Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total charges Rs 3,51,000. 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 Adampakkam 1st Main Street?

The Sub Registrar Office that covers Adampakkam 1st Main Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office uses the guideline value to calculate the applicable fees, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Adampakkam 1st Main Street?

The current guideline value of Adampakkam 1st Main Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times since 2002, starting from Rs 300 per sq.ft and reaching Rs 3,900 per sq.ft in 2024. The most significant increase occurred between 2007 and 2012, with a 289% rise.

What is the land classification for Adampakkam 1st Main Street?

Adampakkam 1st Main Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty rates for property transactions in Adampakkam?

The stamp duty rate for property transactions in Adampakkam is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Adampakkam 1st Main Street?

The Sub Registrar Office for Adampakkam 1st Main Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.