Guideline Value for Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 )

Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 ) guideline value

The current guideline value for Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 ) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO and is classified as Residential Special Type - I.

How the guideline value of Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 ) has changed

The guideline value for this street has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an increase of 8% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 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 3rd Main Rd & Cross Rd ( Ward No.21 ) is above this median.

• Thanikachalam Nagar A - Block 2nd Main Rd ( Ward No.23 ): 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 2nd Main Rd ( Ward No.21 ): 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)
• Thanikachalam Nagar A - Block 2nd cross st ( Ward No.21 ): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar B - Block 1st Main Road ( Ward No.23 ): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( 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 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 )?

The Sub Registrar Office that covers Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( 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 details.

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

The guideline value is a crucial factor during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the transaction reflects the value of the property accurately and that the necessary fees are collected accordingly.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 )?

The current guideline value for Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( 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 land classification for this area?

Thanikachalam Nagar A - Block 3rd Main Rd & Cross Rd ( Ward No.21 ) is classified as Residential Special Type - I.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office located for this area?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.