Guideline Value for Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 )

Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) guideline value

The current guideline value of Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) is Rs 2,700 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) has changed

The guideline value for Thanikachalam Nagar A - Block 2nd cross st has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure then changed to Rs 1,675 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a rise of 49%. The latest revision in 2024 set the guideline value at Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that the register has no 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

The guideline values for properties in Madhavaram range 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 Rs 2,700 per sq.ft for Thanikachalam Nagar A - Block 2nd cross st is above this median.

• Thanikachalam Nagar A - Block 1st Main Rd ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 1st Main Rd ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar 9th St ( Ward No.24 ): 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)

Stamp duty and registration fee for property in Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 )

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 fees to 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 )?

The Sub Registrar Office that covers Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) 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 when registering property in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are proportionate to the property's value, as determined by the guideline value set by the authorities.

Frequently asked questions

What is the current guideline value of Thanikachalam Nagar A - Block 2nd cross st?

The current guideline value of Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) 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 back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the registration fee for property in Thanikachalam Nagar A - Block 2nd cross st?

The registration fee is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, the registration fee would be Rs 54,000 based on the current guideline value.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Thanikachalam Nagar A - Block 2nd cross st, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thanikachalam Nagar A - Block 2nd cross st?

The land classification for Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ) is Residential Special Type - I.