Guideline Value for Ferri Road

Ferri Road guideline value

The current guideline value of Ferri 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 Ferri Road has changed

Ferri Road has seen several revisions in its guideline value over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 8,500 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased to Rs 5,695 per sq.ft. In 2023, the guideline value increased significantly 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.

Overall, from 2012 to 2024, the guideline value has increased by 11%. Notably, the jump from 2017 to 2023 was a substantial 49%, while the decrease from 2012 to 2017 was 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,100 per sq.ft, placing Ferri Road's 2024 figure above that median.

• E W S Quarters Kotturpuram: Rs 6,100 per sq.ft (2024)
• Gandhi Mandabam Road: Rs 11,000 per sq.ft (2024)
• Cresent Road: Rs 9,400 per sq.ft (2024)
• Cresent Park 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)

Stamp duty and registration fee for property in Ferri Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value would be Rs 94,00,000. The stamp duty at 7% would amount to Rs 6,58,000, while the registration fee at 2% would be Rs 1,88,000, bringing the total cost to Rs 8,46,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ferri Road?

The Sub Registrar Office that covers Ferri 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 plays a crucial role in property transactions in Adayar. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is set by the Registration Department and is subject to periodic revisions.

When selling property, the guideline value ensures that the transaction is recorded accurately and reflects the current market conditions as determined by the authorities. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Ferri Road?

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

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 8,500 to Rs 9,400 per sq.ft in 2024, reflecting an overall increase of 11% over this period.

What is the land classification for Ferri Road?

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

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated on properties in Adayar?

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