Guideline Value for Thanigai Nagar, Ponniammanmedu (Ward-24)

Thanigai Nagar, Ponniammanmedu (Ward-24) guideline value

The current guideline value for Thanigai Nagar, Ponniammanmedu (Ward-24) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified under Residential Class III Type - I and falls under the Madhavaram SRO.

How the guideline value of Thanigai Nagar, Ponniammanmedu (Ward-24) has changed

The guideline value for Thanigai Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and it has now risen to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 reflects an 8% increase. The fluctuations in values highlight the changes in the property landscape in this area.

Guideline values in Madhavaram

In Madhavaram, there are 1946 streets under the Madhavaram SRO, with 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, positioning Thanigai Nagar's 2024 figure below this median.

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

Stamp duty and registration fee for property in Thanigai Nagar, Ponniammanmedu (Ward-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. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Thanigai Nagar, Ponniammanmedu (Ward-24)?

The Sub Registrar Office that covers Thanigai Nagar, Ponniammanmedu (Ward-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 a critical factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Thanigai Nagar?

The current guideline value of Thanigai Nagar, Ponniammanmedu (Ward-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 several times, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the stamp duty for property in Thanigai Nagar?

The stamp duty for property in Thanigai Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Thanigai Nagar, Ponniammanmedu (Ward-24), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thanigai Nagar?

Thanigai Nagar is classified under Residential Class III Type - I, indicating its suitability for residential purposes.