Guideline Value for Thanickachalam Nagar G Block 3rd Cross Street (Ward 21)

Thanickachalam Nagar G Block 3rd Cross Street (Ward 21) guideline value

The current guideline value of Thanickachalam Nagar G Block 3rd 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 3rd Cross Street (Ward 21) has changed

Over the years, the guideline value for Thanickachalam Nagar G Block 3rd Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value significantly to Rs 2,700 per sq.ft, marking a 61% increase from the 2017 figure. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase.

It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 for this street in the register. The changes in guideline values reflect the adjustments made during the revisions, showcasing fluctuations in property valuation over time.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 G Block 3rd Cross Street is above this median, indicating a relatively higher valuation compared to other streets in the area.

• Thanickachalam Nagar G Block 2nd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 4th Cross Street (Ward 21): 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 G Block 5th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar F Block Masuthi Street (Ward 24): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 6th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanickachalam Nagar G Block 3rd 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fees would be Rs 2,43,000. It is important to note that 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 G Block 3rd Cross Street (Ward 21)?

The Sub Registrar Office that covers Thanickachalam Nagar G Block 3rd Cross Street (Ward 21) 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 benchmark for determining the minimum value of a property, ensuring that transactions are registered at a fair price based on the prevailing market conditions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs involved in the transaction. Buyers and sellers should be aware of these values to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Thanickachalam Nagar G Block 3rd Cross Street?

The current guideline value of Thanickachalam Nagar G Block 3rd 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 increased to Rs 2,700 per sq.ft in 2024. This represents a 61% increase from 2017 to 2024 and an overall increase of 8% from 2012 to 2024.

What is the land classification for this area?

The land classification for Thanickachalam Nagar G Block 3rd Cross Street is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at 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, totaling Rs 2,43,000 in fees. Duty is charged on the higher of the guideline value or the sale price.

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 is responsible for property registrations in the area.