Guideline Value for Goodshed 1st Lane

Goodshed 1st Lane guideline value

The current guideline value of Goodshed 1st Lane, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Goodshed 1st Lane has changed

The guideline value for Goodshed 1st Lane has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, it then decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision brought it back up to Rs 3,500 per sq.ft, and the latest revision in 2024 set it at Rs 3,900 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 11%. The largest increase occurred between 2007 and 2012, with a remarkable rise of 438%. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Goodshed 1st Lane matches this median.

• Goodshed 2nd Lane: Rs 2,800 per sq.ft (2024)
• Goodshed 3rd Lane: Rs 3,900 per sq.ft (2024)
• Goodshed Road: Rs 3,900 per sq.ft (2024)
• Gopalakrishnan Street: Rs 3,900 per sq.ft (2024)
• Godhavari Street: Rs 3,900 per sq.ft (2024)
• G S T Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Goodshed 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Goodshed 1st Lane?

The Sub Registrar Office that covers Goodshed 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

When buying or selling property in Adambakkam, the guideline value plays a crucial role in determining the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. The guideline value is regularly updated, reflecting changes in the real estate market, and it is advisable to check for the latest figures before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Goodshed 1st Lane?

The current guideline value of Goodshed 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Goodshed 1st Lane?

Goodshed 1st Lane is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Goodshed 1st Lane?

The Sub Registrar Office for Goodshed 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Goodshed 1st Lane?

Stamp duty for properties in Goodshed 1st Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.