Guideline Value for Thai Nagar Main Road

Thai Nagar Main Road guideline value

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

How the guideline value of Thai Nagar Main Road has changed

The guideline value for Thai Nagar Main Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from the 2023 revision, which was Rs 2,500 per sq.ft. The 2012 revision also recorded a value of Rs 2,500 per sq.ft. There are no figures available for the revisions in 2017, 2007, 2003, and 2002.

From 2012 to 2023, the guideline value remained unchanged at Rs 2,500 per sq.ft. However, from 2023 to 2024, there was an increase of 8%, bringing the value to Rs 2,700 per sq.ft. Overall, 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 the median being Rs 2,700 per sq.ft. Thai Nagar Main Road's 2024 guideline value aligns with this median.

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

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 the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thai Nagar Main Road?

The Sub Registrar Office that covers Thai Nagar Main Road 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 Kodungaiyur

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold or purchased, the guideline value is considered to ensure that the appropriate fees are collected. Buyers and sellers should be aware of the guideline value to understand the financial implications of their real estate transactions.

Frequently asked questions

What is the current guideline value of Thai Nagar Main Road?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. The value remained unchanged at Rs 2,500 per sq.ft from 2012 to 2023.

What is the land classification for Thai Nagar Main Road?

Thai Nagar Main Road is classified as Residential Class I Type - I under the Madhavaram SRO.

What are the stamp duty and registration fees for properties in Thai Nagar Main Road?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in the area, including Thai Nagar Main Road.