Guideline Value for Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23)

Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23) guideline value

The current guideline value for Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23) is Rs 2,700 per sq.ft. This street 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 E Block Kamaraj 2nd St (Ward-23) has changed

Over the years, the guideline value for Thanikachalam Nagar E Block Kamaraj 2nd St has seen several revisions. 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. In 2023, the value increased to Rs 2,500 per sq.ft, and as of the latest 2024 revision, it stands at Rs 2,700 per sq.ft. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

From 2017 to 2023, there was a significant increase of 49%. The value then rose by 8% from 2023 to 2024. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 8% in the guideline value.

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 for Thanikachalam Nagar E Block Kamaraj 2nd St is above this median.

• Thanikachalam Nagar E Block Kamaraj 1st St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Kamaraj 3rd St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar C Block, Ponniammanmedu (Ward-21): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Kamarajsalai (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar C Block Main Rd (Ward No.21): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23)

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 amount to Rs 1,89,000, while 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23)?

The Sub Registrar Office that covers Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-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 when registering property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a buyer or seller engages in a property transaction, they must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures compliance with local regulations and accurate valuation during the registration process.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar E Block Kamaraj 2nd St?

The current guideline value for Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-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 changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for this area?

The land classification for Thanikachalam Nagar E Block Kamaraj 2nd St is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thanikachalam Nagar E Block Kamaraj 2nd St is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

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

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