Guideline Value for Thanickachalam Nagar F Block Masuthi Street (Ward 24)

Thanickachalam Nagar F Block Masuthi Street (Ward 24) guideline value

The current guideline value of Thanickachalam Nagar F Block Masuthi Street (Ward 24) 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 F Block Masuthi Street (Ward 24) has changed

The guideline value for Thanickachalam Nagar F Block Masuthi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. However, this figure decreased to Rs 1,675 per sq.ft in the 2017 revision. Following that, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 2,700 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and an 8% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram vary significantly, with figures ranging from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision. The median value for the village is Rs 1,600 per sq.ft, placing the 2024 guideline value of Thanickachalam Nagar F Block Masuthi Street above this median.

• Thanickachalam Nagar F Block 9th Street (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 1st Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar F Block 3rd Main Road (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 2nd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar F Block 2nd Main Road (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 3rd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanickachalam Nagar F Block Masuthi Street (Ward 24)

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 to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thanickachalam Nagar F Block Masuthi Street (Ward 24)?

The Sub Registrar Office that covers Thanickachalam Nagar F Block Masuthi Street (Ward 24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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 reference point for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When finalizing a property transaction, it is essential to be aware of the guideline value as it impacts the overall cost of registration. Ensuring that the sale price is in line with or above the guideline value helps in avoiding potential legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Thanickachalam Nagar F Block Masuthi Street?

The current guideline value of Thanickachalam Nagar F Block Masuthi Street (Ward 24) 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, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for this street?

The Madhavaram Sub Registrar Office handles registrations for Thanickachalam Nagar F Block Masuthi Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for this area?

The land classification for Thanickachalam Nagar F Block Masuthi Street is Residential Special Type - I.