Guideline Value for Thanickachalam Nagar A Block 3rd Cross Street (Ward 21)

Thanickachalam Nagar A Block 3rd Cross Street (Ward 21) guideline value

The current guideline value of Thanickachalam Nagar A Block 3rd Cross Street (Ward 21) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thanickachalam Nagar A Block 3rd Cross Street (Ward 21) has changed

The guideline value for Thanickachalam Nagar A Block 3rd Cross Street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2024, there was a significant increase of 61%, bringing the current guideline value to Rs 2,700 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. 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.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, making the current guideline value of Thanickachalam Nagar A Block 3rd Cross Street above this median.

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

Stamp duty and registration fee for property in Thanickachalam Nagar A Block 3rd Cross Street (Ward 21)

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 fees together to Rs 2,43,000. It is important to 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Thanickachalam Nagar A Block 3rd Cross Street (Ward 21)?

The Sub Registrar Office that covers Thanickachalam Nagar A Block 3rd Cross Street 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 Madhavaram

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When you register a property, the guideline value helps in calculating the stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers should be aware of the guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Thanickachalam Nagar A Block 3rd Cross Street?

The current guideline value of Thanickachalam Nagar A Block 3rd Cross Street (Ward 21) 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Thanickachalam Nagar A Block 3rd Cross Street?

The land classification for Thanickachalam Nagar A Block 3rd Cross Street is Residential Special Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,89,000 at the rate of 7%.