Guideline Value for Thillai Ganga Nagar 22nd Street

Thillai Ganga Nagar 22nd Street guideline value

The current guideline value of Thillai Ganga Nagar 22nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the jurisdiction of the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Thillai Ganga Nagar 22nd Street has changed

Over the years, the guideline value of Thillai Ganga Nagar 22nd Street has seen several revisions. The earliest recorded figure was Rs 419 per sq.ft in 2002, which increased to Rs 478 per sq.ft in 2003, marking a change of +14%. The value then rose significantly to Rs 1,250 per sq.ft in 2007, reflecting an increase of +162%. In 2012, the guideline value was Rs 3,500 per sq.ft, showing a substantial increase of +180% from the previous revision. However, this value dropped to Rs 2,345 per sq.ft in 2017, indicating a decrease of -33%.

From 2017 to 2023, the guideline value rose sharply to Rs 3,500 per sq.ft, marking an increase of +49%. The most recent revision in 2024 set the value at Rs 3,900 per sq.ft, which is an increase of +11% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +831%.

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 for these streets is Rs 3,900 per sq.ft, which aligns with the guideline value of Thillai Ganga Nagar 22nd Street.

• Thillai Ganga Nagar 21st Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 23rd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 20th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 23rd street Extension: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 24th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 22nd 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, charged 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thillai Ganga Nagar 22nd Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 22nd 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 plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the property transaction.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 22nd Street?

The current guideline value of Thillai Ganga Nagar 22nd 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 undergone several revisions, increasing from Rs 419 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, which is an overall increase of +831%.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations for Thillai Ganga Nagar 22nd Street?

The Alandur Sub Registrar Office handles property registrations for Thillai Ganga Nagar 22nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thillai Ganga Nagar 22nd Street?

The land classification for Thillai Ganga Nagar 22nd Street is Residential Class I Type - III, indicating its suitability for residential purposes.