Guideline Value for Cresent Park Road

Cresent Park Road guideline value

The current guideline value of Cresent Park Road is Rs 9,400 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Special Type - II.

How the guideline value of Cresent Park Road has changed

In the 2012 revision, the guideline value was Rs 8,500 per sq.ft. This figure remained until the 2017 revision, where it changed to Rs 5,695 per sq.ft, reflecting a decrease of 33%. The value increased significantly in the 2023 revision to Rs 8,500 per sq.ft, and then rose again to Rs 9,400 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was an increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayar

Adayar village has 92 streets under the Adayar SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Cresent Park Road's 2024 guideline value is above this median.

• Cresent Road: Rs 9,400 per sq.ft (2024)
• Circular Road: Rs 6,600 per sq.ft (2024)
• Chitra Nagar: Rs 5,500 per sq.ft (2024)
• Bharathi Nagar Tank Square Street: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Nethaji Street: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in Cresent Park Road

For a 1,000 sq.ft plot at the current rate of Rs 9,400 per sq.ft, the guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total to Rs 8,46,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Cresent Park Road?

The Sub Registrar Office covering Cresent Park Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the registration process will consider the higher of the sale price or the guideline value to calculate the applicable duties. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Cresent Park Road?

The current guideline value of Cresent Park Road is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 8,500 per sq.ft in 2012 to Rs 5,695 per sq.ft in 2017, then increased to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the land classification for Cresent Park Road?

Cresent Park Road is classified as Residential Special Type - II under the Adayar SRO.

Where can I find the Sub Registrar Office for Cresent Park Road?

The Sub Registrar Office for Cresent Park Road is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Adayar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.