Guideline Value for Goodshed 3rd Lane

Goodshed 3rd Lane guideline value

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

How the guideline value of Goodshed 3rd Lane has changed

The guideline value for Goodshed 3rd Lane has seen several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, marking an 11% rise from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the jump from 2007 to 2012 was substantial at 438%. Overall, from 2007 to 2024, the guideline value has increased by 500%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a guideline value range from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the 2024 guideline value of Goodshed 3rd Lane.

• Goodshed 2nd Lane: Rs 2,800 per sq.ft (2024)
• Goodshed Road: Rs 3,900 per sq.ft (2024)
• Goodshed 1st Lane: 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 3rd 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 fees to Rs 3,51,000. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Goodshed 3rd Lane?

The Goodshed 3rd Lane falls under the jurisdiction of 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 essential during the registration of property transactions in Adambakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Goodshed 3rd Lane?

The current guideline value of Goodshed 3rd 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, marking a total increase of 500% over the years.

What are the stamp duty and registration fees for property in Goodshed 3rd Lane?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Goodshed 3rd Lane?

The Alandur Sub Registrar Office handles property registrations for Goodshed 3rd Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that they are recorded at official rates set by the government.