Guideline Value for Thambaiya Reddy Colony

Thambaiya Reddy Colony guideline value

The current guideline value of Thambaiya Reddy Colony is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madambakkam village under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Thambaiya Reddy Colony has changed

The guideline value for Thambaiya Reddy Colony has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase 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 7%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that Thambaiya Reddy Colony's 2024 figure is below this median.

• 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)
• Thai Seai Nala Viduthi: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thambaiya Reddy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 information.

Which Sub Registrar Office covers Thambaiya Reddy Colony?

The Sub Registrar Office that covers Thambaiya Reddy Colony 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to assess the stamp duty payable. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Thambaiya Reddy Colony?

The current guideline value of Thambaiya Reddy Colony is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft from 2012 to 2023, and then increased to Rs 1,600 per sq.ft in 2024, representing a total increase of 7% from 2012 to 2024.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 1,600 per sq.ft in 2024 include Thambaiya Reddy Colony 1st Street, 2nd Street, 3rd Street, Cross Street, and Main Road.

What is the registration office for Thambaiya Reddy Colony?

The registration office for Thambaiya Reddy Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Thambaiya Reddy Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at 7%.