Guideline Value for Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 )

Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) guideline value

The current guideline value for Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, followed by a further rise to Rs 2,700 per sq.ft in the 2024 revision, which represents an 8% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. The 2024 revision shows a 49% increase from the 2017 figure. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram village, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for the village is Rs 1,600 per sq.ft, placing Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) above that median.

• Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 3rd Main Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 1st Main Rd ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 4th Main Rd & Cross Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 )

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 cost for these fees to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 )?

The Sub Registrar Office that covers Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) 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 crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at a standardized value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 )?

The current guideline value for Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) 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 seen several changes: it was Rs 2,500 per sq.ft in 2012, decreased to Rs 1,675 per sq.ft in 2017, increased to Rs 2,500 per sq.ft in 2023, and finally rose to Rs 2,700 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ) is Residential Special Type - I, indicating its suitability for residential purposes.

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 all registrations for properties in the area.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.