Guideline Value for THAVOOTH NAGAR 2ND STREET

Thavooth Nagar 2nd Street guideline value

The current guideline value for Thavooth Nagar 2nd Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Thavooth Nagar 2nd Street has changed

The guideline value for Thavooth Nagar 2nd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,400 per sq.ft, which decreased to Rs 938 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,400 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Thavooth Nagar 2nd Street's 2024 figure below that median.

• Thavooth Nagar 1st Street: Rs 1,540 per sq.ft (2024)
• Theruveethiamman Koil Street: Rs 1,540 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 2,200 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 2,200 per sq.ft (2024)
• Suriya Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Suriya Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Thavooth Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thavooth Nagar 2nd Street?

The Sub Registrar Office that covers Thavooth Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Medavakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When you register a property, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thavooth Nagar 2nd Street?

The current guideline value of Thavooth Nagar 2nd Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the land classification for Thavooth Nagar 2nd Street?

The land classification for Thavooth Nagar 2nd Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thavooth Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

What is the stamp duty for property transactions in this area?

The stamp duty for property transactions in Thavooth Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 15,40,000 would incur a stamp duty of Rs 1,07,800.