Guideline Value for Thillai Ganga Nagar 36th Street

Thillai Ganga Nagar 36th Street guideline value

The current guideline value of Thillai Ganga Nagar 36th 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 36th Street has changed

The guideline value for Thillai Ganga Nagar 36th Street has seen several revisions over the years. In 2002, the guideline value was Rs 472 per sq.ft, which increased to Rs 538 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,250 per sq.ft in 2007, and it further increased to Rs 3,500 per sq.ft in 2012. However, the value dropped to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 726%. The changes between the revisions are as follows: from 2002 to 2003, there was a 14% increase; from 2003 to 2007, it rose by 132%; from 2007 to 2012, it decreased by 33%; from 2012 to 2017, it dropped by 49%; then, from 2017 to 2023, it increased by 49%; and finally, from 2023 to 2024, it rose by 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current guideline value for Thillai Ganga Nagar 36th Street.

• Thillai Ganga Nagar 35th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 37th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 34th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 38th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 33rd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 39th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 36th 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, calculated at 7%, would be Rs 2,73,000, and the registration fee, at 2%, would be Rs 78,000, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Thillai Ganga Nagar 36th Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 36th 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 when buying or selling property in Adambakkam. It serves as the minimum value for which a property can be registered and is used to calculate stamp duty and registration fees. Buyers and sellers should be aware that the guideline value may influence the transaction price, as it sets a benchmark for property valuation.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 36th Street?

The current guideline value of Thillai Ganga Nagar 36th 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 increased from Rs 472 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 726% over the years.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Thillai Ganga Nagar 36th Street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in this area?

The Alandur Sub Registrar Office handles property registrations for Thillai Ganga Nagar 36th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How many streets in Adambakkam have a guideline value in 2024?

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