Guideline Value for Adiyaman Street

Adiyaman Street guideline value

The current guideline value of Adiyaman Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Adiyaman Street has changed

Over the years, the guideline value of Adiyaman Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is an increase from the 2023 figure of Rs 1,500 per sq.ft, marking a change of +10%. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, indicating a significant increase of +49% from that year to 2023. The 2012 revision also had a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +10%.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Adiyaman Street. This means that the first recorded value for this street was in 2012, at Rs 1,500 per sq.ft.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Adiyaman Street.

• Advocate Colony Ramanaidu Cross Street: Rs 1,650 per sq.ft (2024)
• Advocate Janakiraman Street: Rs 1,650 per sq.ft (2024)
• Agananuru Street: Rs 1,650 per sq.ft (2024)
• Agaththiyar Street: Rs 1,650 per sq.ft (2024)
• Abraham Lincoln Street: Rs 3,850 per sq.ft (2024)
• Abraham Lincoln 3rd cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Adiyaman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 Adiyaman Street?

Adiyaman Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Adiyaman Street?

The current guideline value of Adiyaman Street is Rs 1,650 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 2023 to Rs 1,650 per sq.ft in 2024. It increased by +10%. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing a significant increase of +49% from 2017 to 2023.

What are the stamp duty and registration fees for Adiyaman Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Adiyaman Street?

The registration for Adiyaman Street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Adiyaman Street?

Adiyaman Street is classified as Residential Class I Type - III, indicating its use for residential purposes within the Chitlapakkam village.