Guideline Value for Audco Colony - 2nd street

Audco Colony - 2nd street guideline value

The current guideline value for Audco Colony - 2nd street is Rs 5,000 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 - I.

How the guideline value of Audco Colony - 2nd street has changed

The guideline value for Audco Colony - 2nd street has seen several revisions over the years. In 2012, the guideline value was Rs 4,500 per sq.ft. This figure then decreased to Rs 3,015 per sq.ft in the 2017 revision. However, from 2017 to 2023, the guideline value increased significantly to Rs 4,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, 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. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Audco Colony - 2nd street's 2024 figure above that median.

• Audco Colony First Street (Audco Colony): Rs 5,000 per sq.ft (2024)
• Audco Colony Main (Audco Colony): Rs 5,000 per sq.ft (2024)
• Balagangatharar Street: Rs 3,900 per sq.ft (2024)
• Balaji nagar: Rs 3,900 per sq.ft (2024)
• Balaji Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Apmen 5th Street (Hoppman Street): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Audco Colony - 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, resulting in a total of Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Audco Colony - 2nd street?

The Sub Registrar Office that covers Audco Colony - 2nd 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 during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers and sellers should ensure they are informed of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value for Audco Colony - 2nd street?

The current guideline value for Audco Colony - 2nd 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 is the land classification for Audco Colony - 2nd street?

The land classification for Audco Colony - 2nd street is Residential Class I Type - I.

Where can I find the Alandur Sub Registrar Office?

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

How is the stamp duty calculated for property in Audco Colony - 2nd street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 50,00,000, the stamp duty would amount to Rs 3,50,000.