Guideline Value for Thazhambu Street

Thazhambu Street guideline value

The current guideline value of Thazhambu Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Thazhambu Street has changed

The guideline value of Thazhambu Street has seen significant changes over the years. In 2002, the value was Rs 292 per sq.ft, which increased to Rs 333 per sq.ft in 2003. Following this, the value rose to Rs 900 per sq.ft in 2007, and then it saw a substantial jump to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and finally, it reached the current value of Rs 3,900 per sq.ft in 2024.

From 2017 to 2023, there was a 49% increase, while from 2023 to 2024, the change was +11%. The largest increase occurred between 2007 and 2012, with a rise of 289%. Overall, from 2002 to 2024, the guideline value has increased by 1,236%.

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 is Rs 3,900 per sq.ft, which is the same as the 2024 guideline value for Thazhambu Street.

• Thenpennai Street (Bharathi Nagar): Rs 3,900 per sq.ft (2024)
• Thilagar Street: Rs 3,900 per sq.ft (2024)
• Thilai Ganga Nagar 36th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 12th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thazhambu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thazhambu Street?

The Sub Registrar Office that covers Thazhambu 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 more details.

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 reference point for calculating stamp duty and registration fees, which are mandatory for property transfers.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately in the government records. It helps in determining the applicable fees and taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Thazhambu Street?

The current guideline value of Thazhambu Street 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 seen various changes, starting from Rs 292 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 1,236%.

What is the stamp duty rate for properties in Thazhambu Street?

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

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the transaction is recorded accurately in government records.