Guideline Value for Adhi Lakshmi Street

Adhi Lakshmi Street guideline value

The current guideline value of Adhi Lakshmi Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village and falls under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Adhi Lakshmi Street has changed

The guideline value for Adhi Lakshmi Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,600 per sq.ft. This was followed by a drop to Rs 1,072 per sq.ft in 2017, marking a decrease of 33%. In 2023, the guideline value increased to Rs 1,600 per sq.ft, and in the latest revision for 2024, it further increased to Rs 1,760 per sq.ft, a rise of 10% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, when comparing the guideline value from 2012 to 2024, there has been a total increase of 10%.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Adhi Lakshmi Street's 2024 figure is below this median.

• Adhimoolar Street: Rs 1,210 per sq.ft (2024)
• Abirami Nagar: Rs 2,200 per sq.ft (2024)
• Abibullah Nagar: Rs 2,200 per sq.ft (2024)
• Alamelu Nagar: Rs 1,210 per sq.ft (2024)
• A.L.S. Greenland: Rs 1,210 per sq.ft (2024)
• A.L.S.Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Adhi Lakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to Rs 1,58,400. 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 detailed calculations.

Which Sub Registrar Office covers Adhi Lakshmi Street?

The Sub Registrar Office that covers Adhi Lakshmi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to ensure compliance with legal requirements. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Adhi Lakshmi Street?

The current guideline value of Adhi Lakshmi Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the registration office for Adhi Lakshmi Street?

The registration office for Adhi Lakshmi Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at a rate of 7%.

What are the other streets in Mudichur with their guideline values?

Other streets in Mudichur include Adhimoolar Street at Rs 1,210 per sq.ft, Abirami Nagar at Rs 2,200 per sq.ft, and A.L.S.Nagar at Rs 1,760 per sq.ft, among others.