Guideline Value for Thillai Ganga Nagar 17th Street

Thillai Ganga Nagar 17th Street guideline value

The current guideline value of Thillai Ganga Nagar 17th 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 17th Street has changed

Since the 2002 revision, the guideline value for Thillai Ganga Nagar 17th Street has seen significant changes. In 2002, the value was Rs 514 per sq.ft, which increased to Rs 586 per sq.ft in 2003. Following this, the value rose to Rs 1,250 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017 before climbing to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

The changes between these revisions are notable. From 2002 to 2003, the increase was +14%. The jump from 2003 to 2007 was +113%, followed by a substantial rise of +180% from 2007 to 2012. After a decline of -33% from 2012 to 2017, the value increased by +49% from 2017 to 2023. The latest revision shows an increase of +11% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +659%.

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 guideline value for Thillai Ganga Nagar 17th Street.

• Thillai Ganga Nagar 16th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 18th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 15th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 19th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 1st Main Road: Rs 5,000 per sq.ft (2024)
• Thillai Ganga Nagar 14th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 17th 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, while the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Ganga Nagar 17th Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 17th 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 plays a crucial role during property registration in Adambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 17th Street?

The current guideline value of Thillai Ganga Nagar 17th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has increased significantly from Rs 514 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, marking an overall increase of +659%.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, which is the same as the guideline value for Thillai Ganga Nagar 17th Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 3,51,000.

Which office handles registrations for Thillai Ganga Nagar 17th Street?

The Alandur Sub Registrar Office handles registrations for Thillai Ganga Nagar 17th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.