Guideline Value for Apmen 2nd Street (Hoppman Street)

Apmen 2nd Street (Hoppman Street) guideline value

The current guideline value of Apmen 2nd Street (Hoppman Street) is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Apmen 2nd Street (Hoppman Street) has changed

The guideline value for Apmen 2nd Street (Hoppman Street) has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which was followed by a decrease to Rs 3,015 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, marking a change of 49%. The latest revision in 2024 raised the guideline value to Rs 5,000 per sq.ft, an increase of 11% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%.

Guideline values in Adambakkam

In Adambakkam, 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, with a median value of Rs 3,900 per sq.ft. Apmen 2nd Street's current value is above this median.

• Apmen 1st Street (Hoppman Street): Rs 3,900 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 2nd Street (Hoppman Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total cost for these charges Rs 4,50,000. 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 Apmen 2nd Street (Hoppman Street)?

The Sub Registrar Office that covers Apmen 2nd Street (Hoppman 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 plays a crucial role in property transactions in Adambakkam. It is used to calculate the stamp duty and registration fees that buyers need to pay when purchasing a property. This ensures that the transaction is officially recorded and that the necessary taxes are collected by the government.

When selling a property, the guideline value can influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Apmen 2nd Street (Hoppman Street)?

The current guideline value of Apmen 2nd Street (Hoppman Street) is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What are the other streets in Adambakkam with their guideline values?

Other streets in Adambakkam include Apmen 1st Street, Apmen 3rd Street, Apmen 4th Street, Apmen 5th Street, Annai Velankanni Nagar, and Audco Colony - 2nd street, with values ranging from Rs 3,900 to Rs 5,000 per sq.ft in 2024.

What is the registration fee for property in Apmen 2nd Street?

The registration fee for property in Apmen 2nd Street is calculated at 2% of the guideline value. For a property valued at Rs 50,00,000, the registration fee would be Rs 1,00,000.

Where can I find more information about the Sub Registrar Office?

The Alandur Sub Registrar Office covers Apmen 2nd Street. More information can be found by visiting the official website or using the provided link to find your SRO.