Guideline Value for Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23)

Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23) guideline value

The current guideline value for Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23) 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 E Block Mahathmaganthi st (Ward-23) has changed

The guideline value for Thanikachalam Nagar E Block Mahathmaganthi st has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, which represented a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 8% from 2012 to 2024.

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 Mahathmaganthi st is above this median.

• Thanikachalam Nagar E Block Kamarajsalai (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block, Ponniammanmedu (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 E Block Rajaji 1st St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Kamaraj 2nd St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Rajaji 2nd St (Ward-23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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. 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 E Block Mahathmaganthi st (Ward-23)?

The Sub Registrar Office that covers Thanikachalam Nagar E Block Mahathmaganthi 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 in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded at a value that reflects the current market conditions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar E Block Mahathmaganthi st?

The current guideline value for Thanikachalam Nagar E Block Mahathmaganthi 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, an increase of 8%. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Thanikachalam Nagar E Block Mahathmaganthi st?

The land classification for Thanikachalam Nagar E Block Mahathmaganthi st (Ward-23) is Residential Special Type - I, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Thanikachalam Nagar E Block Mahathmaganthi st is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

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