Guideline Value for Thanickachalam Nagar F Block 11th Street (Ward 24)

Thanickachalam Nagar F Block 11th Street (Ward 24) guideline value

The current guideline value for Thanickachalam Nagar F Block 11th 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 11th Street (Ward 24) has changed

Over the years, the guideline value for Thanickachalam Nagar F Block 11th Street has seen several revisions. 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 value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it reached Rs 2,700 per sq.ft in the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a substantial increase of 49%. The 2023 to 2024 revision saw an increase of 8%. Overall, from 2012 to 2024, the guideline value increased by 8% despite the decline observed between 2012 and 2017.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Thanickachalam Nagar F Block 11th Street is above this median.

• Thanickachalam Nagar F Block 10th Street (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar F Block 1st Main Road (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar C Block Natesan Main Road (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 C Block 4th 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)

Stamp duty and registration fee for property in Thanickachalam Nagar F Block 11th 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 and the sale price.

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

Which Sub Registrar Office covers Thanickachalam Nagar F Block 11th Street (Ward 24)?

The Sub Registrar Office that covers Thanickachalam Nagar F Block 11th 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. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction reflects the official valuation set by the authorities, which is essential for legal and administrative purposes.

Frequently asked questions

What is the current guideline value for Thanickachalam Nagar F Block 11th Street?

The current guideline value for Thanickachalam Nagar F Block 11th 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Thanickachalam Nagar F Block 11th Street is Residential Special Type - I. This classification indicates the intended use of the land for residential purposes.

What are the stamp duty and registration fees for a property here?

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Sub Registrar Office covering Thanickachalam Nagar F Block 11th Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.