Guideline Value for Thillai Ganga Nagar 12th Street

Thillai Ganga Nagar 12th Street guideline value

The current guideline value for Thillai Ganga Nagar 12th Street is Rs 3,900 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 I Type - III.

How the guideline value of Thillai Ganga Nagar 12th Street has changed

The guideline value for Thillai Ganga Nagar 12th Street has seen several revisions over the years. In 2002, the guideline value was Rs 484 per sq.ft, which increased to Rs 552 per sq.ft in 2003. The value continued to rise significantly, reaching Rs 1,250 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, this 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.

From 2017 to 2023, there was a notable increase of 49%. The 2023 to 2024 revision reflects an increase of 11%. The overall change from 2002 to 2024 is a substantial increase of 706%. There are no figures available for the years not listed in the register for this street.

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 is Rs 3,900 per sq.ft, which is the same as the current value for Thillai Ganga Nagar 12th Street.

• Thillai Ganga Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 14th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 16th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 12th Street

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, resulting in a total of 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Ganga Nagar 12th Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 12th 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 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 minimum sale price of a property, ensuring that both buyers and sellers are aware of the value set by the government.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process is transparent and fair for all parties involved.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 12th Street?

The current guideline value of Thillai Ganga Nagar 12th 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 changed from Rs 484 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 706% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in Thillai Ganga Nagar 12th Street?

The registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Thillai Ganga Nagar 12th Street?

The Alandur Sub Registrar Office handles the registration for Thillai Ganga Nagar 12th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.