Guideline Value for Thanikachalam Nagar 3rd Cross st ( Ward No.24 )

Thanikachalam Nagar 3rd Cross st ( Ward No.24 ) guideline value

The current guideline value of Thanikachalam Nagar 3rd Cross st ( Ward No.24 ) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Thanikachalam Nagar 3rd Cross st ( Ward No.24 ) has changed

The guideline value for Thanikachalam Nagar 3rd Cross st has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it reached Rs 2,700 per sq.ft in the 2024 revision.

Between the 2023 and 2024 revisions, there was an increase of 8%. The value rose by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the revisions in 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 is Rs 1,600 per sq.ft, making the 2024 figure for Thanikachalam Nagar 3rd Cross st above that median.

• Thanikachalam Nagar 3rd Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 3rd St ( Ward No.24 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 2nd St ( Ward No.24 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 4th Cross st ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 2nd Cross st ( Ward No.24 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 4th St ( Ward No.24 ): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar 3rd Cross st ( Ward No.24 )

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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thanikachalam Nagar 3rd Cross st ( Ward No.24 )?

The Sub Registrar Office that covers Thanikachalam Nagar 3rd 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 details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the registration process. Buyers must be aware of the guideline value to ensure they are paying the correct fees associated with their property transactions.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should consult the guideline value to understand their financial obligations during the sale process.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar 3rd Cross st ( Ward No.24 )?

The current guideline value for Thanikachalam Nagar 3rd Cross st ( Ward No.24 ) 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, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Thanikachalam Nagar 3rd Cross st?

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 Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Thanikachalam Nagar 3rd Cross st ( Ward No.24 ), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thanikachalam Nagar 3rd Cross st?

The land classification for Thanikachalam Nagar 3rd Cross st ( Ward No.24 ) is Residential Special Type - I.