Guideline Value for Goodshed 2nd Lane

Goodshed 2nd Lane guideline value

The current guideline value of Goodshed 2nd Lane is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class II Type - II.

How the guideline value of Goodshed 2nd Lane has changed

The guideline value for Goodshed 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 650 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,675 per sq.ft in 2017. The next revision in 2023 raised the value to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 331%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that have 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 2nd Lane is below this median.

• Goodshed 1st Lane: Rs 3,900 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 2nd Lane

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Together, the total amount for stamp duty and registration fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Goodshed 2nd Lane?

The Sub Registrar Office that covers Goodshed 2nd 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as the baseline for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Goodshed 2nd Lane?

The current guideline value of Goodshed 2nd Lane is Rs 2,800 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 2,800 per sq.ft in 2024, representing an overall increase of 331% over this period.

What are the stamp duty and registration fees for property in Goodshed 2nd Lane?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Which Sub Registrar Office covers Goodshed 2nd Lane?

The Alandur Sub Registrar Office covers Goodshed 2nd Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Goodshed 2nd Lane?

Goodshed 2nd Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.