Guideline Value for Adhilakshmi Street

Adhilakshmi Street guideline value

The current guideline value of Adhilakshmi Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Adhilakshmi Street has changed

The guideline value for Adhilakshmi Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase of 10% from the 2023 figure of Rs 1,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% to the 2023 figure. The 2012 revision also set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that the register has no figure for Adhilakshmi Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Adhilakshmi Street's 2024 figure is below that median.

• Adhi Nagar: Rs 1,600 per sq.ft (2024)
• Adhi Nagar Kattapomman Street: Rs 1,600 per sq.ft (2024)
• Adhilakshmi Cross Street: Rs 1,100 per sq.ft (2024)
• Adhi Nagar Rajaji Cross Street: Rs 1,600 per sq.ft (2024)
• Adhi Nagar Veerabadran Street: Rs 1,600 per sq.ft (2024)
• Abirami Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Adhilakshmi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Adhilakshmi Street?

The Sub Registrar Office that covers Adhilakshmi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Selaiyur. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is a legal reference point and is often used by the registration office to assess the value of the property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Adhilakshmi Street?

The current guideline value of Adhilakshmi Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, with several revisions in between. Notably, there was a 49% increase from 2017 to 2023, followed by a 10% increase from 2023 to 2024.

What is the land classification of Adhilakshmi Street?

Adhilakshmi Street is classified as Residential Class IV Type - I under the Selaiyur SRO.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Adhilakshmi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.