Guideline Value for South Sector 2th Street

South Sector 2th Street guideline value

The current guideline value for South Sector 2th Street in Adambakkam village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of South Sector 2th Street has changed

The guideline value for South Sector 2th Street has seen several revisions over the years. In 2002, the guideline value was Rs 274 per sq.ft. This increased to Rs 332 per sq.ft in 2003, marking a change of +21%. The value continued to rise, reaching Rs 650 per sq.ft in 2007, a significant increase of +96%. By 2012, the value had risen to Rs 2,500 per sq.ft, reflecting a remarkable increase of +285% from 2007. However, in 2017, the value dropped to Rs 1,675 per sq.ft, showing a decrease of -33% compared to 2012. The guideline value then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024, which is a rise of +12% from the previous year.

Overall, from 2002 to 2024, the guideline value for South Sector 2th Street has increased by +922%. The register has no figure for the years not mentioned in the revisions.

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 guideline value for these streets is Rs 3,900 per sq.ft, placing South Sector 2th Street's 2024 figure below that median.

• South Sector 1st Street: Rs 2,800 per sq.ft (2024)
• South Sector 3th Street: Rs 2,800 per sq.ft (2024)
• South Sector 4th Street: Rs 2,800 per sq.ft (2024)
• South Street: Rs 2,800 per sq.ft (2024)
• South Pennai Street: Rs 2,800 per sq.ft (2024)
• South New Street (Vanuvampet): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in South Sector 2th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these fees Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Sector 2th Street?

The South Sector 2th Street is covered by 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 information.

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 stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of property transactions. Understanding these values will help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for South Sector 2th Street?

The current guideline value for South Sector 2th 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 274 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of +922% over the years.

What are the registration fees for property in South Sector 2th Street?

The registration fees for property transactions are calculated based on the guideline value, with a stamp duty of 7% and a registration fee of 2% applicable.

Which office handles property registrations for South Sector 2th Street?

The Alandur Sub Registrar Office handles property registrations for South Sector 2th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the applicable stamp duty and registration fees. Buyers and sellers must consider the guideline value to understand the total costs involved in the transaction.