Guideline Value for Thanigai Nagar 1st Cross st ( Ward No.24 )

Thanigai Nagar 1st Cross st ( Ward No.24 ) guideline value

The current guideline value of Thanigai Nagar 1st Cross st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Thanigai Nagar 1st Cross st ( Ward No.24 ) has changed

The guideline value for Thanigai Nagar 1st Cross st has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 1,300 per sq.ft, marking a 62% rise from the 2017 figure.

Overall, from 2012 to 2024, 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 for this street in the register.

Guideline values in Madhavaram

Madhavaram village has 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 for these streets is Rs 1,600 per sq.ft, which means that the 2024 figure for Thanigai Nagar 1st Cross st is below this median.

• Thanigai Nagar 1st st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Thanigai Nagar 2nd st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Thanigai Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)
• Thanigai nagar ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Thanickachalam Nagar Kamaraj School road (Ward 21): Rs 2,700 per sq.ft (2024)
• Thanickachalam Nagar Kamaraj School 3rd Cross Street (Ward 21): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigai Nagar 1st Cross st ( Ward No.24 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Please note that the 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 Thanigai Nagar 1st Cross st ( Ward No.24 )?

The Sub Registrar Office that covers Thanigai Nagar 1st Cross st ( Ward No.24 ) 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 an essential factor in the registration process when buying or selling property in Madhavaram. It serves as a basis for calculating the stamp duty and registration fees that need to be paid at the time of registration.

Understanding the guideline value helps buyers and sellers to be aware of the costs involved in property transactions. It is crucial to ensure that the sale price meets or exceeds the guideline value to avoid any issues during registration.

Frequently asked questions

What is the current guideline value of Thanigai Nagar 1st Cross st ( Ward No.24 )?

The current guideline value of Thanigai Nagar 1st Cross st ( Ward No.24 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thanigai Nagar 1st Cross st changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024.

What is the land classification for Thanigai Nagar 1st Cross st?

Thanigai Nagar 1st Cross st is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Thanigai Nagar 1st Cross st ( Ward No.24 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at 7%.