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Guideline Value

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

₹2700/sq.ft.

The guideline value for Thanikachalam Nagar 3rd St ( Ward No.24 ) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thanikachalam Nagar 3rd St ( Ward No.24 )

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

The current guideline value of Thanikachalam Nagar 3rd 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, and is classified as Residential Special Type - I.

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

Over the years, the guideline value of Thanikachalam Nagar 3rd St has seen several revisions. The 2012 revision was set at Rs 2,500 per sq.ft, which then changed to Rs 1,675 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

The register does not provide figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Thanikachalam Nagar 3rd St ( Ward No.24 ) is above this median.

Stamp duty and registration fee for property in Thanikachalam Nagar 3rd 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 amounts to 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 duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Thanikachalam Nagar 3rd 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 plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the local authorities.

When a property is registered, the guideline value is compared against the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the current market conditions.

Frequently asked questions

What is the current guideline value of Thanikachalam Nagar 3rd St ( Ward No.24 )?

The current guideline value of Thanikachalam Nagar 3rd 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 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. From 2017 to 2023, it rose from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft, a significant increase of 49%.

What is the land classification for Thanikachalam Nagar 3rd St ( Ward No.24 )?

Thanikachalam Nagar 3rd St ( Ward No.24 ) is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Thanikachalam Nagar 3rd St?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%, along with a registration fee of Rs 54,000 at 2%, totaling Rs 2,43,000.