Guideline Value for Adithya Nagar 1st Cross Street

Adithya Nagar 1st Cross Street guideline value

The current guideline value of Adithya Nagar 1st Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, and it is classified as Commercial Class I Type - II.

How the guideline value of Adithya Nagar 1st Cross Street has changed

The guideline value for Adithya Nagar 1st Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, which is an increase from the 2023 revision of Rs 2,200 per sq.ft. Notably, there was no change in the guideline value from 2012 to 2023, as both years recorded the same figure of Rs 2,200 per sq.ft.

Looking back further, the guideline value remained unchanged from the 2012 revision to the 2023 revision. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for the village is Rs 2,400 per sq.ft, which is equal to the current value for Adithya Nagar 1st Cross Street.

• Adithya Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Adithya Nagar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Adithya Nagar: Rs 2,400 per sq.ft (2024)
• Adithya Nagar 2nd Street: Rs 2,400 per sq.ft (2024)
• Adithya Nagar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Adithya Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Adithya Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adithya Nagar 1st Cross Street?

The Sub Registrar Office that covers Adithya Nagar 1st Cross 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 details.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it ensures compliance with legal requirements and helps in understanding the financial implications of the transaction. Accurate knowledge of the guideline value can assist in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Adithya Nagar 1st Cross Street?

The current guideline value of Adithya Nagar 1st Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. There was no change in the value from 2012 to 2023, as both years recorded Rs 2,200 per sq.ft.

What is the land classification for Adithya Nagar 1st Cross Street?

Adithya Nagar 1st Cross Street is classified as Commercial Class I Type - II. This classification can affect the types of developments permitted in the area.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Adithya Nagar 1st Cross Street is 7%, while the registration fee is 2%. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the 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. This office handles property registrations for Adithya Nagar 1st Cross Street.