Guideline Value for Race Course Road

Race Course Road guideline value

The current guideline value of Race Course Road is Rs 9,400 per sq.ft, effective from 1 July 2024. This road is located in Adayar village, under the Adayar Sub Registrar Office (SRO), and is classified as Residential Special Type - II.

How the guideline value of Race Course Road has changed

The guideline value for Race Course Road has seen several revisions over the years. The 2012 revision set the value at Rs 8,500 per sq.ft, which was followed by a decrease to Rs 5,695 per sq.ft in the 2017 revision. However, this value significantly increased to Rs 8,500 per sq.ft in the 2023 revision, and the most recent revision in 2024 has set the guideline value at Rs 9,400 per sq.ft. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the value rose by 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adayar

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

• Race Course Extension Colony 1st Street: Rs 6,600 per sq.ft (2024)
• Race Course Extension 2nd Street: Rs 6,600 per sq.ft (2024)
• Race View Road: Rs 9,400 per sq.ft (2024)
• Railway Colony: Rs 5,500 per sq.ft (2024)
• Ponni Ammal Kovil Street: Rs 6,600 per sq.ft (2024)
• Pondicherry Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Race Course 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, and the registration fee at 2% would be Rs 1,88,000, bringing the total fees to Rs 8,46,000. 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 more details.

Which Sub Registrar Office covers Race Course Road?

The Adayar Sub Registrar Office covers Race Course Road, 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 in property transactions in Adayar, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use it to calculate applicable duties and fees.

When registering a property, the guideline value will influence the stamp duty and registration fees that need to be paid. It is essential for both parties to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Race Course Road?

The current guideline value of Race Course 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 back to Rs 8,500 per sq.ft in 2023, and finally to Rs 9,400 per sq.ft in 2024.

What is the classification of land on Race Course Road?

Race Course Road is classified as Residential Special Type - II, indicating its suitability for residential purposes.

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 for properties in Adayar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 94,00,000, the stamp duty would be Rs 6,58,000 at 7%.