Guideline Value for Teacher Thambiya St (Ward-30)

Teacher Thambiya St (Ward-30) guideline value

The current guideline value of Teacher Thambiya St (Ward-30) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Teacher Thambiya St (Ward-30) has changed

The guideline value for Teacher Thambiya St (Ward-30) has seen a few revisions over the years. The 2012 revision recorded a guideline value of Rs 1,200 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 1,200 per sq.ft. The latest revision in 2024 increased the guideline value to Rs 1,300 per sq.ft, marking an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, making the current value of Teacher Thambiya St (Ward-30) below that median.

• Teacher Thambaiya Reddiar Nagar (Lakshmipuram): Rs 1,300 per sq.ft (2024)
• Telephone Colony 1st st (Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 2nd st (Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 3rd st (Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony 4th st (Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony (Lakshmipuram): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Thambiya St (Ward-30)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Teacher Thambiya St (Ward-30)?

The Sub Registrar Office that covers Teacher Thambiya St (Ward-30) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is aligned with the prevailing market conditions as recognized by the Registration Department.

When a property is sold, the buyer is required to pay stamp duty and registration fees 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 Teacher Thambiya St (Ward-30)?

The current guideline value of Teacher Thambiya St (Ward-30) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, before increasing to Rs 1,300 per sq.ft in 2024. This marks an overall increase of 8% from 2012 to 2024.

What is the land classification of Teacher Thambiya St (Ward-30)?

Teacher Thambiya St (Ward-30) is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers Teacher Thambiya St (Ward-30).