Guideline Value for Thanickachalam Nagar G Block 5th Cross Street (Ward 21)

Thanickachalam Nagar G Block 5th Cross Street (Ward 21) guideline value

The current guideline value for Thanickachalam Nagar G Block 5th 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 5th Cross Street (Ward 21) has changed

Over the years, the guideline value for Thanickachalam Nagar G Block 5th Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, the most recent 2024 revision has increased the guideline value to Rs 2,700 per sq.ft, reflecting a rise of 61% from the 2017 figure.

Overall, when comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value. 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 a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for Thanickachalam Nagar G Block 5th Cross Street above that median.

• Thanickachalam Nagar G Block 4th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar G Block 6th Cross Street (Ward 21): 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 G Block 7th Cross Street (Ward 21): 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 G Block 8th Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanickachalam Nagar G Block 5th 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, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Thanickachalam Nagar G Block 5th Cross Street (Ward 21)?

The Sub Registrar Office that covers Thanickachalam Nagar G Block 5th Cross Street (Ward 21) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher value between the guideline value and the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be familiar with the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Thanickachalam Nagar G Block 5th Cross Street?

The current guideline value for Thanickachalam Nagar G Block 5th 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 decrease of 33% from 2012 to 2017, followed by an increase of 61% from 2017 to 2024.

What is the land classification for this area?

The land classification for Thanickachalam Nagar G Block 5th Cross Street is Residential Special Type - I.

Which office handles registrations for this street?

The Madhavaram Sub Registrar Office handles registrations for Thanickachalam Nagar G Block 5th Cross Street. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at the current rate, the total guideline value is Rs 27,00,000, leading to a stamp duty of Rs 1,89,000 and a registration fee of Rs 54,000.