Guideline Value for Chidambaranar Street

Chidambaranar Street guideline value

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

How the guideline value of Chidambaranar Street has changed

Over the years, the guideline value of Chidambaranar Street has seen significant changes. In 2002, the value was Rs 225 per sq.ft. This figure increased to Rs 257 per sq.ft in 2003, marking a 14% rise. The value continued to climb, reaching Rs 900 per sq.ft in 2007, which represented a substantial increase of 250%. By 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a 289% increase from the previous revision. However, this figure decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%.

In 2023, the value rose again to Rs 3,500 per sq.ft, and the latest revision in 2024 set the guideline value at Rs 3,900 per sq.ft, indicating an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,633%.

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 value for these streets is Rs 3,900 per sq.ft, which is the same as the 2024 guideline value for Chidambaranar Street.

• Chidambaranar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• Chidambaranar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Citylink Road: Rs 5,500 per sq.ft (2024)
• Co-operative Nagar: Rs 5,000 per sq.ft (2024)
• Daniel Street: Rs 3,900 per sq.ft (2024)
• Devaraja Puram: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaranar 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. Together, the total cost for these fees would be 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaranar Street?

The Sub Registrar Office that covers Chidambaranar 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Adambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for both buyers and sellers, as it directly impacts the overall cost of the transaction. It is advisable to check the latest guideline values before proceeding with any property transactions to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Chidambaranar Street?

The current guideline value of Chidambaranar 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 225 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,633% over the years.

What is the registration office for Chidambaranar Street?

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

How is stamp duty calculated for properties in Chidambaranar Street?

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

What other streets have the same guideline value in Adambakkam?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Chidambaranar 1st Cross Street, Chidambaranar 2nd Cross Street, Daniel Street, and Devaraja Puram.