Guideline Value for Alikan Street

Alikan Street guideline value

The current guideline value of Alikan Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Alikan Street has changed

The guideline value for Alikan Street has seen significant changes over the years. In 2002, the value was Rs 304 per sq.ft, which increased to Rs 347 per sq.ft in 2003. Following this, the value rose dramatically to Rs 900 per sq.ft in 2007, then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,900 per sq.ft as of the 2024 revision. The overall change from 2002 to 2024 is an increase of 1183%.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The value then increased by 11% from 2023 to 2024. The register has no figures for the years not mentioned in the list provided.

Guideline values in Adambakkam

In Adambakkam village, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the guideline value for Alikan Street.

• Amaravathi Street: Rs 3,900 per sq.ft (2024)
• Agathiyar Street: Rs 3,900 per sq.ft (2024)
• Amman Koil Street Lane: Rs 3,900 per sq.ft (2024)
• Amman Koil Street (Vanuvampet): Rs 3,900 per sq.ft (2024)
• Adampakkam 1st Street: Rs 3,900 per sq.ft (2024)
• Adampakkam 1st Main Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Alikan Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Alikan Street?

The Sub Registrar Office that covers Alikan Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam, as it determines the minimum value at which the property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. It is essential for buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Alikan Street?

The current guideline value of Alikan Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 304 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1183%.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Amaravathi Street, Agathiyar Street, Amman Koil Street Lane, Amman Koil Street (Vanuvampet), Adampakkam 1st Street, and Adampakkam 1st Main Street.

What are the stamp duty and registration fees for a property in Alikan Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Alikan Street located?

The Alandur Sub Registrar Office, which covers Alikan Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.