Guideline Value for Thillai Ganga Nagar 8th Street

Thillai Ganga Nagar 8th Street guideline value

The current guideline value of Thillai Ganga Nagar 8th 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 it falls under the Residential Class I Type - III land classification.

How the guideline value of Thillai Ganga Nagar 8th Street has changed

The guideline value for Thillai Ganga Nagar 8th Street has seen several revisions over the years. In 2002, the guideline value was Rs 539 per sq.ft, which increased to Rs 615 per sq.ft in 2003, marking a 14% rise. The value continued to grow significantly, reaching Rs 1,250 per sq.ft in 2007, reflecting a 103% increase. By 2012, the value was Rs 3,500 per sq.ft, showing a substantial increase of 180% from the previous revision. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%.

In the following years, the guideline value rose again to Rs 3,500 per sq.ft in 2023, and further increased to Rs 3,900 per sq.ft in 2024, showing an 11% increase. Overall, from 2002 to 2024, the guideline value has increased by 624%. The register has no figures for the years not listed.

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 is Rs 3,900 per sq.ft, which is equal to the current guideline value of Thillai Ganga Nagar 8th Street.

• Thillai Ganga Nagar 7th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 9th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 6th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 6th main road: Rs 5,000 per sq.ft (2024)
• Thillai Ganga Nagar 5th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 5th Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Thillai Ganga Nagar 8th 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 at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thillai Ganga Nagar 8th Street?

The Sub Registrar Office that covers Thillai Ganga Nagar 8th 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 critical factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office uses this value to assess the transaction, and it is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thillai Ganga Nagar 8th Street?

The current guideline value of Thillai Ganga Nagar 8th 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 from Rs 539 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 624% over the years.

What is the stamp duty for a property in Thillai Ganga Nagar 8th Street?

The stamp duty for a property in Thillai Ganga Nagar 8th Street is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 2,73,000.

Where is the Sub Registrar Office for Thillai Ganga Nagar 8th Street located?

The Sub Registrar Office for Thillai Ganga Nagar 8th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Thillai Ganga Nagar 8th Street?

Thillai Ganga Nagar 8th Street falls under the Residential Class I Type - III land classification.