Guideline Value for Sardar Patel Road

Sardar Patel Road guideline value

The current guideline value of Sardar Patel Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Adayar village, under the Adayar Sub Registrar Office (SRO). The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sardar Patel Road has changed

The guideline value for Sardar Patel Road has seen several revisions over the years. In the 2012 revision, the value was Rs 14,000 per sq.ft, which then decreased to Rs 9,380 per sq.ft in the 2017 revision. Following this, there was a significant increase to Rs 14,000 per sq.ft in the 2023 revision, and the current 2024 revision shows a further increase to Rs 15,400 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adayar

Adayar village has 92 streets under the Adayar SRO with 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 Sardar Patel Road's 2024 figure above the median.

• Sanjeevarayan Pettai: Rs 10,500 per sq.ft (2024)
• Selvaranga Raja Street: Rs 5,000 per sq.ft (2024)
• River Side Road: Rs 9,900 per sq.ft (2024)
• Ranjith Road: Rs 11,000 per sq.ft (2024)
• Ranjith Lane: Rs 6,600 per sq.ft (2024)
• Ranjith Cross Street [Maruthai Avenue]: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sardar Patel Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,400 per sq.ft, the total guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, bringing the total fees to Rs 13,86,000. It is important to note that 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 Sardar Patel Road?

The Sub Registrar Office that covers Sardar Patel 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 critical factor when registering property transactions in Adayar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sardar Patel Road?

The current guideline value of Sardar Patel Road is Rs 15,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 14,000 per sq.ft in 2012 to Rs 9,380 per sq.ft in 2017, then to Rs 14,000 per sq.ft in 2023, and finally to Rs 15,400 per sq.ft in 2024.

What is the median guideline value in Adayar?

The median guideline value for the 92 streets in Adayar under the Adayar SRO is Rs 6,100 per sq.ft.

What are the stamp duty and registration fees for property in Sardar Patel Road?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000 and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000.

Where is the Adayar Sub Registrar Office located?

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