Guideline Value for Thillai Ganga Nagar 3rd Main Road

Thillai Ganga Nagar 3rd Main Road guideline value

The current guideline value of Thillai Ganga Nagar 3rd 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, and is classified as Residential Class I Type - I.

How the guideline value of Thillai Ganga Nagar 3rd Main Road has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 499 per sq.ft, which increased to Rs 569 per sq.ft in 2003, marking a 14% rise. The value then jumped to Rs 1,400 per sq.ft in 2007, reflecting a 146% increase. Following that, the 2012 revision set the value at Rs 4,500 per sq.ft, which was a 221% increase from the previous figure. However, the value decreased to Rs 3,015 per sq.ft in 2017, showing a decline of 33% from the 2012 figure.

In 2023, the guideline value rose to Rs 4,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 5,000 per sq.ft, which is an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 902%.

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 value is Rs 3,900 per sq.ft, and Thillai Ganga Nagar 3rd Main Road's 2024 figure is above that median.

• Thillai Ganga Nagar 39th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 38th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 37th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 40th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 36th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 3rd Main Road

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar 3rd Main Road?

The Thillai Ganga Nagar 3rd Main Road falls under 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 property registration in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is important for buyers and sellers to understand the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 3rd Main Road?

The current guideline value of Thillai Ganga Nagar 3rd 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 changed significantly from Rs 499 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 902%.

What is the land classification for Thillai Ganga Nagar 3rd Main Road?

Thillai Ganga Nagar 3rd Main Road is classified as Residential Class I Type - I.

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

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Where is the Sub Registrar Office for Thillai Ganga Nagar 3rd Main Road located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.