Guideline Value for Thanikachalam Avenue

Thanikachalam Avenue guideline value

The current guideline value of Thanikachalam Avenue in Madhavaram village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Thanikachalam Avenue has changed

The guideline value for Thanikachalam Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value increased by 40%, and from 2017 to 2023, it saw a substantial rise of 49%. Overall, the guideline value has increased by 125% from 2012 to 2024, reflecting the changes in property valuation in this area.

Guideline values in Madhavaram

The guideline values for properties in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision, with a median value of Rs 1,600 per sq.ft. The guideline value for Thanikachalam Avenue is above this median, indicating a higher valuation compared to many other streets in the village.

• Thanikachalam Nagar 10th St (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 11th St (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 12th St (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thanigai nagar (Ward No.24): Rs 1,300 per sq.ft (2024)
• Thanikachalam Nagar 1st Cross Rd (Ward No.23): Rs 2,700 per sq.ft (2024)
• Thanigai Nagar, Ponniammanmedu (Ward-24): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanikachalam Avenue?

The Sub Registrar Office covering Thanikachalam Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madhavaram, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the state's regulations.

During the registration process, buyers and sellers must adhere to the guideline value set by the Registration Department. This value helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Thanikachalam Avenue?

The current guideline value of Thanikachalam Avenue 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 125% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Thanikachalam Avenue?

The Madhavaram Sub Registrar Office handles registrations for Thanikachalam Avenue, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thanikachalam Avenue?

Thanikachalam Avenue is classified as Residential Special Type - I, indicating its designation for residential purposes.