Guideline Value for Adhisankarar Street

Adhisankarar Street guideline value

The current guideline value of Adhisankarar Street in Porunthavakkam village is Rs 2,310 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - II.

How the guideline value of Adhisankarar Street has changed

The guideline value for Adhisankarar Street has seen several revisions over the years. In 2003, the value was Rs 495 per sq.ft, which increased to Rs 500 per sq.ft in 2007. This marked a modest rise of 1%. The value then jumped significantly to Rs 2,200 per sq.ft in 2012, reflecting a 340% increase. However, it saw a decrease to Rs 1,474 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,200 per sq.ft in 2023, and most recently, it has increased to Rs 2,310 per sq.ft in 2024, which is a 5% rise.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 367%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Porunthavakkam

In Porunthavakkam, there are 23 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,760 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, positioning Adhisankarar Street's 2024 value below this median.

• Almelumangapuram Street: Rs 1,760 per sq.ft (2024)
• Anna Street: Rs 2,420 per sq.ft (2024)
• Balaiah Road: Rs 2,420 per sq.ft (2024)
• Bhuvaneswari Street: Rs 2,750 per sq.ft (2024)
• Gopal Street: Rs 3,300 per sq.ft (2024)
• Iyapa Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Adhisankarar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty, charged at 7%, would amount to Rs 1,61,700, while the registration fee at 2% would be Rs 46,200. Together, the total cost for these fees would be Rs 2,07,900. 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 details.

Which Sub Registrar Office covers Adhisankarar Street?

The Sub Registrar Office that covers Adhisankarar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Porunthavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can influence negotiations and final sale prices. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Adhisankarar Street?

The current guideline value of Adhisankarar Street is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 495 per sq.ft in 2003 to Rs 2,310 per sq.ft in 2024, which is an overall increase of 367%.

What are the stamp duty and registration fees for property on Adhisankarar Street?

The stamp duty for a property valued at Rs 23,10,000 would be Rs 1,61,700, and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which Sub Registrar Office is responsible for Adhisankarar Street?

The Pallavaram Sub Registrar Office is responsible for Adhisankarar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How does the guideline value affect property transactions?

The guideline value affects property transactions by serving as a minimum valuation for registration, which influences the stamp duty and registration fees. Buyers and sellers must consider the guideline value to ensure compliance and proper valuation during negotiations.