Guideline Value for Adhikesavalu Hut

Adhikesavalu Hut guideline value

The current guideline value of Adhikesavalu Hut in Chindadripet village, under the Periamet SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - II land classification.

How the guideline value of Adhikesavalu Hut has changed

The guideline value for Adhikesavalu Hut has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012, marking a substantial rise of 333%. However, from 2012 to 2017, it saw a decrease of 33%, bringing the value down to Rs 1,742 per sq.ft. The value then increased sharply to Rs 2,600 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Adhikesavalu Hut is below this median.

• Adhikesavalu street: Rs 4,900 per sq.ft (2024)
• Agrahram Street: Rs 5,500 per sq.ft (2024)
• Arunachala Naicken street: Rs 8,200 per sq.ft (2024)
• Arunchala lane: Rs 3,800 per sq.ft (2024)
• Audiyappa Chety street: Rs 3,800 per sq.ft (2024)
• Ayya Mudalai Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Adhikesavalu Hut

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Adhikesavalu Hut?

The Sub Registrar Office that covers Adhikesavalu Hut is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chindadripet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When a property transaction occurs, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded at a fair value, reflecting the property's worth in the local market.

Frequently asked questions

What is the current guideline value of Adhikesavalu Hut?

The current guideline value of Adhikesavalu Hut is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification for Adhikesavalu Hut?

Adhikesavalu Hut falls under the Residential Class II Type - II land classification.

Where can I find the registration office for Adhikesavalu Hut?

The registration office for Adhikesavalu Hut is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chindadripet?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 28,00,000, the stamp duty would be calculated at 7% of that amount.