Guideline Value for Thillai Ganga Nagar 2nd Main Road

Thillai Ganga Nagar 2nd Main Road guideline value

The current guideline value of Thillai Ganga Nagar 2nd Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thillai Ganga Nagar 2nd Main Road has changed

The guideline value for Thillai Ganga Nagar 2nd Main Road has seen several revisions over the years. In 2002, the guideline value was Rs 502 per sq.ft, which increased to Rs 572 per sq.ft in 2003. The following revisions were significant, with the value rising to Rs 1,250 per sq.ft in 2007 and further to Rs 4,500 per sq.ft in 2012. However, there was a decrease to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects an 11% increase. The overall change from the 2002 revision to the current 2024 revision amounts to a remarkable 896% increase.

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, with a median value of Rs 3,900 per sq.ft. Thillai Ganga Nagar 2nd Main Road's 2024 guideline value is above this median.

• Thillai Ganga Nagar 29th Street Extension (Anjaneyar Koil): Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 2nd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 29th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 28th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 30th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 27th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty is charged at 7%, resulting in Rs 3,50,000, and the registration fee at 2% amounts to Rs 1,00,000. Therefore, the total cost for these fees would be Rs 4,50,000. 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 2nd Main Road?

The Thillai Ganga Nagar 2nd Main Road falls under the jurisdiction of 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 value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

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 transaction is documented accurately and legally, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 2nd Main Road?

The current guideline value of Thillai Ganga Nagar 2nd Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 502 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 896% over the years.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 50,00,000, the total fees would be Rs 4,50,000.

Which office handles property registrations for Thillai Ganga Nagar 2nd Main Road?

The Alandur Sub Registrar Office handles property registrations for Thillai Ganga Nagar 2nd Main Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thillai Ganga Nagar 2nd Main Road?

The land classification for Thillai Ganga Nagar 2nd Main Road is Residential Class I Type - I, indicating its suitability for residential development.