Guideline Value for Thanickachalam Nagar B Block 1st Cross Street (Ward 21)

Thanickachalam Nagar B Block 1st Cross Street (Ward 21) guideline value

The current guideline value of Thanickachalam Nagar B Block 1st 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 B Block 1st Cross Street (Ward 21) has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2024 revision increased the value to Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 8%.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street. The 2012 to 2017 period experienced a significant decrease of 33% in the guideline value.

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 value for these streets is Rs 1,600 per sq.ft, making the 2024 figure for Thanickachalam Nagar B Block 1st Cross Street above that median.

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

Stamp duty and registration fee for property in Thanickachalam Nagar B Block 1st Cross Street (Ward 21)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanickachalam Nagar B Block 1st Cross Street (Ward 21)?

The Sub Registrar Office that covers Thanickachalam Nagar B Block 1st Cross Street (Ward 21) 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 critical factor in property transactions in Madhavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to determine the minimum value on which these fees are calculated. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Thanickachalam Nagar B Block 1st Cross Street?

The current guideline value of Thanickachalam Nagar B Block 1st 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 undergone several revisions, with the most recent being Rs 2,700 per sq.ft in 2024, up from Rs 1,675 per sq.ft in 2017. This represents a 61% increase from the previous revision.

What is the land classification for Thanickachalam Nagar B Block 1st Cross Street?

The land classification for Thanickachalam Nagar B Block 1st Cross Street is Residential Special Type - I, indicating its designated use 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. This ensures that the correct fees are paid during property transactions.