Guideline Value for Thai Seai Nala Viduthi

Thai Seai Nala Viduthi guideline value

The current guideline value of Thai Seai Nala Viduthi is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thai Seai Nala Viduthi has changed

The guideline value for Thai Seai Nala Viduthi has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw an increase to Rs 1,100 per sq.ft, marking a 64% increase from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. Therefore, the changes in guideline value are only reflected in the revisions from 2012, 2017, and 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that the guideline value for Thai Seai Nala Viduthi is below the median.

• Thambaiya Reddy Colony: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony 1st Street: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony 2nd Street: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony 3rd Street: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony Cross Street: Rs 1,600 per sq.ft (2024)
• Thambaiya Reddy Colony Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thai Seai Nala Viduthi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thai Seai Nala Viduthi?

The Sub Registrar Office that covers Thai Seai Nala Viduthi is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process. The guideline value is determined by the government and is subject to periodic revisions, reflecting changes in the area.

When a property transaction occurs, the buyer must pay the 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 in the region.

Frequently asked questions

What is the current guideline value of Thai Seai Nala Viduthi?

The current guideline value of Thai Seai Nala Viduthi is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then increased to Rs 1,100 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Thai Seai Nala Viduthi?

Thai Seai Nala Viduthi is classified as Residential Class III Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for a property in Thai Seai Nala Viduthi?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Where can I find the Sub Registrar Office for Thai Seai Nala Viduthi?

The Sub Registrar Office for Thai Seai Nala Viduthi is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details by visiting the provided link.