Guideline Value for Thillai Ganga Nagar 23rd Street

Thillai Ganga Nagar 23rd Street guideline value

The current guideline value for Thillai Ganga Nagar 23rd 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 23rd Street has changed

The guideline value for Thillai Ganga Nagar 23rd Street has seen significant changes over the years. In 2002, the value was Rs 472 per sq.ft, which increased to Rs 538 per sq.ft in 2003, marking a 14% rise. By 2007, the value jumped to Rs 1,250 per sq.ft, reflecting a substantial increase of 132%. The value further escalated to Rs 3,500 per sq.ft in 2012, showing a remarkable growth of 180%. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, which was a decline of 33%. The guideline value then rose significantly to Rs 3,500 per sq.ft in 2023, and the most recent revision for 2024 shows an increase to Rs 3,900 per sq.ft, which is an 11% rise.

There are no figures available for the revisions in the years not mentioned. Overall, from 2002 to 2024, the guideline value has increased by 726%.

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 matches the current value for Thillai Ganga Nagar 23rd Street.

• Thillai Ganga Nagar 22nd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 23rd street Extension: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 21st Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 24th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 20th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 25th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 23rd 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. Together, the total cost for stamp duty and registration would be Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar 23rd Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 23rd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Adambakkam, as it determines the amount of stamp duty and registration fees payable during the transaction. Buyers and sellers should be aware that the guideline value serves as a benchmark for property transactions in the area.

When registering a property, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 23rd Street?

The current guideline value of Thillai Ganga Nagar 23rd 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 significantly from Rs 472 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, representing an overall increase of 726% over this period.

What is the stamp duty for property in Thillai Ganga Nagar 23rd Street?

The stamp duty for property in Thillai Ganga Nagar 23rd 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 many streets in Adambakkam have a guideline value?

There are 569 streets in Adambakkam under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft.