Guideline Value for TNHB(7th Block) 12th Street

TNHB(7th Block) 12th Street guideline value

The current guideline value for TNHB(7th Block) 12th Street is Rs 3,050 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of TNHB(7th Block) 12th Street has changed

Since the 2002 revision, the guideline value has seen significant changes. In 2002, the value was Rs 225 per sq.ft, which increased to Rs 500 per sq.ft in both 2003 and 2007. The value then rose dramatically to Rs 2,750 per sq.ft in 2012, followed by a decrease to Rs 1,842 per sq.ft in 2017. The 2023 revision set the value at Rs 2,750 per sq.ft, which increased to Rs 3,050 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,256%. The changes between revisions include a 450% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Maduravoyal

In Maduravoyal, there are 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 value is Rs 3,050 per sq.ft, which is the same as the guideline value for TNHB(7th Block) 12th Street.

• TNHB(7th Block) 11th Street: Rs 3,050 per sq.ft (2024)
• TNHB(7th Block) 13th Street & TNHB 9th Block Streets: Rs 3,050 per sq.ft (2024)
• TNHB(7th Block) 10th Street: Rs 3,050 per sq.ft (2024)
• TNHB(7th Block) 1st Street: Rs 3,050 per sq.ft (2024)
• TNHB(7th Block) 2nd Street: Rs 3,050 per sq.ft (2024)
• TNHB(7th Block) 3rd Street: Rs 3,050 per sq.ft (2024)

Stamp duty and registration fee for property in TNHB(7th Block) 12th 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, and the registration fee at 2% would be Rs 61,000, bringing the total cost for these fees to Rs 2,74,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers TNHB(7th Block) 12th Street?

The TNHB(7th Block) 12th Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration 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. This value is set by the Registration Department and is periodically revised to reflect changes in the market.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees based on the property's value. This ensures that the registration process is transparent and consistent across different properties within the region.

Frequently asked questions

What is the current guideline value for TNHB(7th Block) 12th Street?

The current guideline value for TNHB(7th Block) 12th 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 changed significantly from Rs 225 per sq.ft in 2002 to Rs 3,050 per sq.ft in 2024, reflecting an overall increase of 1,256% over the years.

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.

Which Sub Registrar Office handles registrations for TNHB(7th Block) 12th Street?

The Virugambakkam Sub Registrar Office handles registrations for TNHB(7th Block) 12th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for TNHB(7th Block) 12th Street?

The land classification for TNHB(7th Block) 12th Street is Residential Class III Type - I.