Guideline Value for Adhilakshmi Nagar ( Ward No.26 )

Adhilakshmi Nagar ( Ward No.26 ) guideline value

The current guideline value for Adhilakshmi Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Adhilakshmi Nagar ( Ward No.26 ) has changed

The guideline value for Adhilakshmi Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped significantly to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased to Rs 1,200 per sq.ft in 2023, followed by the current value of Rs 1,300 per sq.ft from the 2024 revision, representing an 8% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 value to the current 2024 value, there has been a slight increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Adhilakshmi Nagar's current figure is below this median.

• Adhi Nagar: 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)
• Abirami Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• A.D.V. Nagar (Ward-01): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Adhilakshmi Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Adhilakshmi Nagar ( Ward No.26 )?

The Sub Registrar Office that covers Adhilakshmi Nagar ( Ward No.26 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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 that the state collects appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both the buyer and seller agree on a fair transaction price. It is essential 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 Adhilakshmi Nagar?

The current guideline value of Adhilakshmi Nagar ( Ward No.26 ) 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Adhilakshmi Nagar?

Adhilakshmi Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Adhilakshmi Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,17,000.

Where is the Sub Registrar Office for Adhilakshmi Nagar located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it handles registrations for Adhilakshmi Nagar.