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Guideline Value

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Guideline Value for Chairman Thambu Reddiyar Colony 2nd Street

₹2750/sq.ft.

The guideline value for Chairman Thambu Reddiyar Colony 2nd Street in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Commercial Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Chairman Thambu Reddiyar Colony 2nd Street

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Chairman Thambu Reddiyar Colony 2nd Street guideline value

The current guideline value of Chairman Thambu Reddiyar Colony 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Chairman Thambu Reddiyar Colony 2nd Street has changed

The guideline value for Chairman Thambu Reddiyar Colony 2nd Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a drop of 33%. However, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then further rose to the current rate of Rs 2,750 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no recorded guideline values for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Rs 2,750 per sq.ft for Chairman Thambu Reddiyar Colony 2nd Street is above this median.

Stamp duty and registration fee for property in Chairman Thambu Reddiyar Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chairman Thambu Reddiyar Colony 2nd Street?

The Sub Registrar Office that covers Chairman Thambu Reddiyar Colony 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Chairman Thambu Reddiyar Colony 2nd Street?

The current guideline value for Chairman Thambu Reddiyar Colony 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, a change of 10%. From 2017 to 2023, it increased by 49%, and from 2012 to 2017, it decreased by 33%.

What is the land classification for Chairman Thambu Reddiyar Colony 2nd Street?

Chairman Thambu Reddiyar Colony 2nd Street is classified as Commercial Class I Type - I. This classification can affect the types of developments permitted in the area.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles property registrations for the area.