Guideline Value for Thai Nagar 2nd Street

Thai Nagar 2nd Street guideline value

The current guideline value of Thai Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

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

The guideline value for Thai Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was set at Rs 2,500 per sq.ft. This value decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly by 61%, reaching the current value of Rs 2,700 per sq.ft.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median of Rs 2,700 per sq.ft. Thai Nagar 2nd Street's current guideline value aligns with this median.

• Thai Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Thai Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Thai Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Thai Nagar Extension: Rs 2,700 per sq.ft (2024)
• Thai Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Teacher's Colony Main Road: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Thai Nagar 2nd Street?

The Sub Registrar Office that covers Thai Nagar 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and ensures compliance with local regulations. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Thai Nagar 2nd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, starting at Rs 2,500 per sq.ft in 2012, decreasing to Rs 1,675 per sq.ft in 2017, and then rising to Rs 2,700 per sq.ft in 2024.

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

Thai Nagar 2nd Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.