Guideline Value for Adhinarayana Puram 3rd street

Adhinarayana Puram 3rd street guideline value

The current guideline value of Adhinarayana Puram 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village and falls under the Velacheri SRO, classified as Residential Class II Type - III.

How the guideline value of Adhinarayana Puram 3rd street has changed

The guideline value for Adhinarayana Puram 3rd street has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 1,500 per sq.ft. This value increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 133%. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 3,500 per sq.ft in 2023, followed by another increase to Rs 3,850 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 157%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing Adhinarayana Puram 3rd street's 2024 figure below that median.

• Adhinarayana Puram 2nd street: Rs 3,850 per sq.ft (2024)
• Adhinarayana Puram 4th street: Rs 3,850 per sq.ft (2024)
• Adhinarayana Puram 1st street: Rs 3,850 per sq.ft (2024)
• Adhinarayana Puram: Rs 3,850 per sq.ft (2024)
• Agasthiyar Ashramam: Rs 3,850 per sq.ft (2024)
• A.G.S. Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Adhinarayana Puram 3rd street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 further calculations.

Which Sub Registrar Office covers Adhinarayana Puram 3rd street?

The Sub Registrar Office that covers Adhinarayana Puram 3rd street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Velachery. 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 duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two is used for calculating the applicable stamp duty and registration fees, ensuring that the transaction reflects the true value of the property.

Frequently asked questions

What is the current guideline value of Adhinarayana Puram 3rd street?

The current guideline value of Adhinarayana Puram 3rd street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 157% over the years.

What is the classification of land in Adhinarayana Puram 3rd street?

The land classification for Adhinarayana Puram 3rd street is Residential Class II Type - III.

Which Sub Registrar Office handles registrations for this street?

The Velacheri Sub Registrar Office handles registrations for Adhinarayana Puram 3rd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 38,50,000, the stamp duty would be calculated at 7% of this amount.