Guideline Value for Audco Colony First Street (Audco Colony)

Audco Colony First Street (Audco Colony) guideline value

The current guideline value of Audco Colony First Street (Audco Colony) 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 is Residential Class I Type - I.

How the guideline value of Audco Colony First Street (Audco Colony) has changed

The guideline value for Audco Colony First Street has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, an increase from Rs 4,500 per sq.ft in the 2023 revision, marking an 11% rise. Prior to that, the 2017 revision recorded a value of Rs 3,015 per sq.ft, which was a significant increase of 49% from the previous 2012 figure of Rs 4,500 per sq.ft. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value saw a decrease of 33%, but overall, from 2012 to 2024, there has been a net increase of 11%. These changes reflect the evolving valuation of properties in this area.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have a guideline value for 2024, 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 the 2024 figure for Audco Colony First Street above this median.

• Audco Colony - 2nd street: 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 First Street (Audco Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the guideline value totals Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total fees to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Audco Colony First Street (Audco Colony)?

The Sub Registrar Office that covers Audco Colony First 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 a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for completing property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of this value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Audco Colony First Street?

The current guideline value of Audco Colony First Street (Audco Colony) 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 2023 to Rs 5,000 per sq.ft in 2024. It was Rs 3,015 per sq.ft in 2017 and Rs 4,500 per sq.ft in 2012, showing various increases and decreases over the years.

What is the land classification for Audco Colony First Street?

The land classification for Audco Colony First Street (Audco Colony) is Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Audco Colony First Street?

The registration office for Audco Colony First Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Audco Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at the rate of 7%.