Guideline Value for Thillai Ganga Nagar 40th Street

Thillai Ganga Nagar 40th Street guideline value

The current guideline value of Thillai Ganga Nagar 40th 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 40th Street has changed

The guideline value for Thillai Ganga Nagar 40th Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 472 per sq.ft. In 2003, it increased to Rs 538 per sq.ft, reflecting a 14% rise. The value then rose significantly in 2007 to Rs 1,250 per sq.ft, marking an increase of 132%.

In 2012, the guideline value was Rs 3,500 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw another increase to Rs 2,345 per sq.ft, followed by a substantial rise to Rs 3,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, representing an 11% increase from the previous year. 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 value among these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Thillai Ganga Nagar 40th Street.

• Thillai Ganga Nagar 41st Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 3rd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 42nd Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Thillai Ganga Nagar 43rd 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 40th 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, 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar 40th Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 40th 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 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, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price, while sellers must consider it when setting their selling price to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 40th Street?

The current guideline value of Thillai Ganga Nagar 40th 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, reflecting an overall increase of 726%.

What is the land classification for Thillai Ganga Nagar 40th Street?

Thillai Ganga Nagar 40th Street is classified as Residential Class I Type - III.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Thillai Ganga Nagar 40th Street?

The Alandur Sub Registrar Office handles the registration for Thillai Ganga Nagar 40th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.