Guideline Value for South Sector 3th Street

South Sector 3th Street guideline value

The current guideline value of South Sector 3th 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 Sector 3th Street has changed

The guideline value for South Sector 3th Street has seen significant changes over the years. In the 2002 revision, the value was Rs 274 per sq.ft, which increased to Rs 313 per sq.ft in 2003, marking a change of +14%. The value continued to rise, reaching Rs 650 per sq.ft in 2007, a substantial increase of +108%. However, in 2012, the value adjusted to Rs 2,500 per sq.ft, reflecting a decrease of -33%. The 2017 revision saw a notable increase to Rs 1,675 per sq.ft, which then jumped to Rs 2,500 per sq.ft in 2023, showing an increase of +49%.

Currently, the guideline value stands at Rs 2,800 per sq.ft after the 2024 revision, which is an increase of +12% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +922%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with 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, indicating that the guideline value for South Sector 3th Street is below this median.

• South Sector 2th Street: Rs 2,800 per sq.ft (2024)
• South Sector 4th Street: Rs 2,800 per sq.ft (2024)
• South Sector 1st 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 3th 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 at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers South Sector 3th Street?

The Sub Registrar Office that covers South Sector 3th Street 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 additional information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of South Sector 3th Street?

The current guideline value of South Sector 3th 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 increased 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 is the median guideline value for streets in Adambakkam?

The median guideline value for streets in Adambakkam is Rs 3,900 per sq.ft, while South Sector 3th Street's value is below this median.

What are the stamp duty and registration fees for property in South Sector 3th Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations in South Sector 3th Street?

The Alandur Sub Registrar Office handles property registrations for South Sector 3th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.