Guideline Value for Thanigai Nagar 2nd st ( Ward No.24 )

Thanigai Nagar 2nd st ( Ward No.24 ) guideline value

The current guideline value for Thanigai Nagar 2nd 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 2nd st ( Ward No.24 ) has changed

The guideline value for Thanigai Nagar 2nd st has undergone several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. This was a decline of 33%. However, the value saw a significant increase to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,300 per sq.ft in 2024, marking an 8% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 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. The median guideline value in the village is Rs 1,600 per sq.ft, placing Thanigai Nagar 2nd st below this median.

• Thanigai Nagar 1st st ( Ward No.24 ): Rs 1,300 per sq.ft (2024)
• Thanigai Nagar 1st Cross 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)
• Thanikachalam Avenue: Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 10th St ( Ward No.24 ): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanigai Nagar 2nd st ( Ward No.24 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanigai Nagar 2nd st ( Ward No.24 )?

The Sub Registrar Office that covers Thanigai Nagar 2nd 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered alongside the sale price, and the higher of the two amounts is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thanigai Nagar 2nd st?

The current guideline value for Thanigai Nagar 2nd 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 has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Thanigai Nagar 2nd st?

Thanigai Nagar 2nd st is classified as Residential Class III Type - I.

What is the stamp duty rate for properties in Madhavaram?

The stamp duty rate for properties in Madhavaram is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

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