Guideline Value for TNHB(4,5,6 Block) 28th Street

TNHB(4,5,6 Block) 28th Street guideline value

The current guideline value of TNHB(4,5,6 Block) 28th Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of TNHB(4,5,6 Block) 28th Street has changed

The guideline value for TNHB(4,5,6 Block) 28th Street has undergone several revisions since 2002. In 2002, the guideline value was Rs 225 per sq.ft, which increased to Rs 500 per sq.ft in 2003. There was no change from 2003 to 2007, maintaining the value at Rs 500 per sq.ft. In 2007, the value saw a significant increase to Rs 2,750 per sq.ft in 2012, followed by a decrease to Rs 1,842 per sq.ft in 2017. The value then rose to Rs 2,750 per sq.ft in 2023, culminating in the current value of Rs 3,050 per sq.ft in 2024.

Between the revisions, the most notable changes include an increase of 11% from 2023 to 2024, a 49% increase from 2017 to 2023, and a substantial 450% increase from 2007 to 2012. The overall change from 2002 to 2024 reflects a significant increase of 1256%.

Guideline values in Maduravoyal

In Maduravoyal, there are a total of 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median guideline value for these streets is Rs 3,050 per sq.ft, which is the same as the current value for TNHB(4,5,6 Block) 28th Street.

• TNHB(4,5,6 Block) 27th Street: Rs 3,050 per sq.ft (2024)
• TNHB(4,5,6 Block) 29th Street: Rs 3,050 per sq.ft (2024)
• TNHB(4,5,6 Block) 26th Street: Rs 3,050 per sq.ft (2024)
• TNHB(4,5,6 Block) 2nd Main Road: Rs 3,050 per sq.ft (2024)
• TNHB(4,5,6 Block) 25th Street: Rs 3,050 per sq.ft (2024)
• TNHB(4,5,6 Block) 2nd Street: Rs 3,050 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB(4,5,6 Block) 28th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,050 per sq.ft, the total guideline value would be Rs 30,50,000. The stamp duty at 7% would amount to Rs 2,13,500, while the registration fee at 2% would be Rs 61,000. Together, the total cost for stamp duty and registration would be Rs 2,74,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB(4,5,6 Block) 28th Street?

The TNHB(4,5,6 Block) 28th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for TNHB(4,5,6 Block) 28th Street?

The current guideline value for TNHB(4,5,6 Block) 28th Street is Rs 3,050 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 225 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1256%.

What are the other streets in Maduravoyal with the same guideline value?

Several other streets in Maduravoyal also have a guideline value of Rs 3,050 per sq.ft in 2024, including TNHB(4,5,6 Block) 27th Street, 29th Street, 26th Street, 2nd Main Road, 25th Street, and 2nd Street.

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

For a property valued at Rs 30,50,000, the stamp duty would be Rs 2,13,500 and the registration fee would be Rs 61,000, totaling Rs 2,74,500.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.