Guideline Value for Apmen 1st Street (Hoppman Street)

Apmen 1st Street (Hoppman Street) guideline value

The current guideline value of Apmen 1st Street (Hoppman Street) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Apmen 1st Street (Hoppman Street) has changed

The guideline value for Apmen 1st Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, an increase from Rs 3,500 per sq.ft in the 2023 revision, marking an 11% rise. Looking further back, the 2017 revision recorded a guideline value of Rs 2,345 per sq.ft, which was a significant 49% increase from the previous 2012 figure of Rs 3,500 per sq.ft. Notably, there are no figures available for the 2007, 2003, and 2002 revisions for this street.

Overall, from 2012 to 2024, the guideline value has seen an increase of 11%. The 2012 to 2017 period, however, experienced a decrease of 33% before the subsequent increases in the following years.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which aligns with the current guideline value of Apmen 1st Street.

• Apmen 2nd Street (Hoppman Street): Rs 5,000 per sq.ft (2024)
• Apmen 3rd Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Apmen 4th Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Apmen 5th Street (Hoppman Street): Rs 3,900 per sq.ft (2024)
• Annai Velankanni Nagar: Rs 3,900 per sq.ft (2024)
• Audco Colony - 2nd street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Apmen 1st Street (Hoppman Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total 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, bringing the total fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Apmen 1st Street (Hoppman Street)?

The Sub Registrar Office that covers Apmen 1st 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 registering property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should ensure that they are aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Apmen 1st Street?

The current guideline value of Apmen 1st Street (Hoppman 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 from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. From 2017 to 2023, it rose by 49% from Rs 2,345 per sq.ft.

What is the land classification for Apmen 1st Street?

Apmen 1st Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Apmen 1st Street?

The Alandur Sub Registrar Office covers Apmen 1st Street and is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties on Apmen 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 at 7%.