Guideline Value for Thangavel Nagar, Ponniammanmedu (Ward-24)

Thangavel Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value of Thangavel Nagar, Ponniammanmedu (Ward-24) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class II Type - I, governed by the Madhavaram Sub Registrar Office.

How the guideline value of Thangavel Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Thangavel Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. However, the latest revision in 2024 has increased the value to Rs 1,600 per sq.ft, marking a 59% increase from the 2017 figure. There are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

When looking at the changes, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 7%, reflecting the current rate of Rs 1,600 per sq.ft.

Guideline values in Madhavaram

The guideline values for the village of Madhavaram in 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with the median value being Rs 1,600 per sq.ft. Thangavel Nagar's 2024 figure aligns perfectly with this median.

• Thangavel Nagar: Rs 1,600 per sq.ft (2024)
• Thanickachalam Nagar A Block 1st Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 3rd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 4th Cross Street 2nd Line (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar A Block 4th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar B Block 1st Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thangavel Nagar, Ponniammanmedu (Ward-24)

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. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thangavel Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office covering Thangavel Nagar, Ponniammanmedu (Ward-24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It helps determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the transaction is legally compliant.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty, which is charged at a percentage of 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 Thangavel Nagar, Ponniammanmedu (Ward-24)?

The current guideline value of Thangavel Nagar, Ponniammanmedu (Ward-24) 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. There are no figures available for the years 2023, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for property in Thangavel Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000. This is based on the current guideline value of Rs 1,600 per sq.ft.

Which office handles registrations for Thangavel Nagar?

The Madhavaram Sub Registrar Office handles registrations for Thangavel Nagar, Ponniammanmedu (Ward-24). The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thangavel Nagar?

Thangavel Nagar is classified as Residential Class II Type - I, indicating the type of land use permitted in this area.