Guideline Value for South Main 3rd Street

South Main 3rd Street guideline value

The current guideline value of South Main 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - II.

How the guideline value of South Main 3rd Street has changed

The guideline value for South Main 3rd Street has seen several revisions over the years. In 2002, the value was Rs 259 per sq.ft, which increased to Rs 296 per sq.ft in 2003. Following this, the value rose significantly to Rs 650 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft.

Looking at the changes, from 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The value surged by 285% from 2007 to 2012, and from 2003 to 2007, it increased by 120%. The overall change from 2002 to 2024 reflects a significant increase of 981%.

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. The median value for these streets is Rs 3,900 per sq.ft, placing South Main 3rd Street's 2024 figure below that median.

• South Main 2nd Street: Rs 2,800 per sq.ft (2024)
• South Main First Street: Rs 3,900 per sq.ft (2024)
• South Main Road 1st Lane: Rs 2,800 per sq.ft (2024)
• South Main Road 2nd Lane: Rs 2,800 per sq.ft (2024)
• South Main Road 2nd Street: Rs 3,900 per sq.ft (2024)
• South New Street (Vanuvampet): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in South Main 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, calculated at 7%, amounts to Rs 1,96,000, and the registration fee at 2% is Rs 56,000. Together, the total 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers South Main 3rd Street?

The Sub Registrar Office that covers South Main 3rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

When buyers and sellers engage in a transaction, the guideline value ensures that the registration process is transparent and standardized. This helps in maintaining a fair assessment of property values within the region.

Frequently asked questions

What is the current guideline value of South Main 3rd Street?

The current guideline value of South Main 3rd Street 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 significantly from Rs 259 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 981%.

What is the stamp duty rate for properties in South Main 3rd Street?

The stamp duty rate for properties in South Main 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for South Main 3rd Street located?

The Sub Registrar Office for South Main 3rd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values of other streets in Adambakkam?

Other streets in Adambakkam have varying guideline values. For example, South Main 2nd Street and South Main Road 1st Lane both have a guideline value of Rs 2,800 per sq.ft, while South Main First Street is valued at Rs 3,900 per sq.ft.