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

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

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

Over the years, the guideline value for Thanickachalam Nagar G Block 1st Cross Street has seen several revisions. The earliest recorded revision was in 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the value to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure.

Between the 2012 and 2017 revisions, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing the current value of Thanickachalam Nagar G Block 1st Cross Street above this median.

• Thanickachalam Nagar F Block Masuthi Street (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 9th Street (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)
• Thanickachalam Nagar F Block 3rd Main Road (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 4th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanickachalam Nagar G Block 1st 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 would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees 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.

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Thanickachalam Nagar G 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 plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher value between the two is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value for Thanickachalam Nagar G Block 1st Cross Street?

The current guideline value for Thanickachalam Nagar G 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,700 per sq.ft in 2024, reflecting a 61% increase from 2017 to 2024.

What is the land classification for this area?

The land classification for Thanickachalam Nagar G Block 1st Cross Street (Ward 21) is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher value between the guideline value and the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would amount to Rs 2,43,000.