Guideline Value for Slum Clearance Board Residents

Slum Clearance Board Residents guideline value

The current guideline value for Slum Clearance Board Residents in Adayar village, under the Adayar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Slum Clearance Board Residents has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The most recent revisions show an increase to Rs 5,000 per sq.ft in 2023 and a further rise to Rs 5,500 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The change from 2023 to 2024 is a notable increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 267%.

Guideline values in Adayar

Adayar village has 92 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value is Rs 6,100 per sq.ft, placing the Slum Clearance Board Residents' 2024 figure below this median.

• Selvaranga Raja Street: Rs 5,000 per sq.ft (2024)
• Sardar Patel Road: Rs 15,400 per sq.ft (2024)
• Sanjeevarayan Pettai: Rs 10,500 per sq.ft (2024)
• Thandayudapani Nagar: Rs 9,400 per sq.ft (2024)
• River Side Road: Rs 9,900 per sq.ft (2024)
• Ranjith Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Slum Clearance Board Residents

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees Rs 4,95,000. It is important to note that 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 Slum Clearance Board Residents?

The Sub Registrar Office that covers Slum Clearance Board Residents is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Adayar. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

What is the current guideline value for Slum Clearance Board Residents?

The current guideline value for Slum Clearance Board Residents is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Slum Clearance Board Residents?

The registration office for Slum Clearance Board Residents is the Adayar Sub Registrar Office, 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.

What are the guideline values for other streets in Adayar?

Other streets in Adayar have varying guideline values, with rates ranging from Rs 5,000 to Rs 15,400 per sq.ft as of 2024.