Guideline Value for Thanickachalam Nagar F Block 9th Street (Ward 24)

Thanickachalam Nagar F Block 9th Street (Ward 24) guideline value

The current guideline value of Thanickachalam Nagar F Block 9th Street (Ward 24) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Thanickachalam Nagar F Block 9th Street (Ward 24) has changed

The guideline value for Thanickachalam Nagar F Block 9th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The most recent 2024 revision has increased the guideline value to Rs 2,700 per sq.ft, which is an increase of 61% from the 2017 figure.

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, with a median value of Rs 1,600 per sq.ft. The guideline value for Thanickachalam Nagar F Block 9th Street is above this median.

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

Stamp duty and registration fee for property in Thanickachalam Nagar F Block 9th 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 charges 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 information.

Which Sub Registrar Office covers Thanickachalam Nagar F Block 9th Street (Ward 24)?

The Sub Registrar Office that covers Thanickachalam Nagar F Block 9th Street (Ward 24) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on 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 for Thanickachalam Nagar F Block 9th Street?

The current guideline value for Thanickachalam Nagar F Block 9th 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, and then increased to Rs 2,700 per sq.ft in 2024. This reflects an overall increase of 8% from 2012 to 2024.

What is the land classification for this street?

Thanickachalam Nagar F Block 9th Street (Ward 24) is classified as Residential Special Type - I according to the land classification guidelines.

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 is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be calculated at 7%, amounting to Rs 1,89,000.