Guideline Value for Adhi Nagar

Adhi Nagar guideline value

The current guideline value of Adhi Nagar, located in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Adhi Nagar has changed

The guideline value for Adhi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This value then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the following revisions showed a significant increase, with the 2023 revision rising to Rs 1,200 per sq.ft, and then further increasing to Rs 1,300 per sq.ft in the 2024 revision, reflecting an 8% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, when comparing the value from 2012 to 2024, there has been an 8% increase, indicating a gradual change in the guideline value over the years. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, which means that the guideline value for Adhi Nagar is below the median.

• Adhilakshmi Nagar ( Ward No.26): Rs 1,300 per sq.ft (2024)
• Adhi Sesha Nagar (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Adhivasi Colony: Rs 1,300 per sq.ft (2024)
• Adinath Nagar (Ward 11): Rs 2,200 per sq.ft (2024)
• A.D.V. Nagar (Ward-01): Rs 1,600 per sq.ft (2024)
• Abirami Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Adhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adhi Nagar?

The Sub Registrar Office that covers Adhi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures that both buyers and sellers are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Adhi Nagar?

The current guideline value of Adhi Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

What is the land classification of Adhi Nagar?

Adhi Nagar falls under the Residential Class III Type - I land classification, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

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 1,000 sq.ft plot at the current rate, the total guideline value is Rs 13,00,000, which helps in determining the fees to be paid during registration.