Guideline Value for Adhikesavanpillai Street Block 38

Adhikesavanpillai Street Block 38 guideline value

The current guideline value for Adhikesavanpillai Street Block 38 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Adhikesavanpillai Street Block 38 has changed

Over the years, the guideline value for Adhikesavanpillai Street Block 38 has seen several revisions. The 2007 revision set the value at Rs 1,210 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 210%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The value then rose to Rs 3,750 per sq.ft in 2023, reflecting a 49% increase, and currently stands at Rs 4,100 per sq.ft as of the 2024 revision, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 239%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing the 2024 guideline value of Adhikesavanpillai Street Block 38 below this median.

• Adhikesavan Street: Rs 4,100 per sq.ft (2024)
• Abraham Street: Rs 3,300 per sq.ft (2024)
• Abdul Razak Street: Rs 3,300 per sq.ft (2024)
• Alagirisamy Salai: Rs 7,700 per sq.ft (2024)
• Alagiri Street: Rs 3,300 per sq.ft (2024)
• Alayamaistry Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Adhikesavanpillai Street Block 38

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. 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 further calculations.

Which Sub Registrar Office covers Adhikesavanpillai Street Block 38?

The Sub Registrar Office that covers Adhikesavanpillai Street Block 38 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kodambakkam. It is the minimum value set by the government for property registration, ensuring that properties are not sold below a certain price. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, buyers must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the market conditions and property values in the area.

Frequently asked questions

What is the current guideline value for Adhikesavanpillai Street Block 38?

The current guideline value for Adhikesavanpillai Street Block 38 is Rs 4,100 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 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 239%.

Which Sub Registrar Office is responsible for Adhikesavanpillai Street Block 38?

The Ashok Nagar Sub Registrar Office is responsible for Adhikesavanpillai Street Block 38, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 41,00,000, the total fees would be Rs 3,69,000.

What is the land classification for Adhikesavanpillai Street Block 38?

The land classification for Adhikesavanpillai Street Block 38 is Residential Class IV Type - I.