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

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

The current guideline value for Thanikachalam Nagar E Block Rajaji 2nd 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 the land classification is Residential Special Type - I.

How the guideline value of Thanikachalam Nagar E Block Rajaji 2nd St (Ward-23) has changed

The guideline value for Thanikachalam Nagar E Block Rajaji 2nd St has experienced several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was followed by a decrease to Rs 1,675 per sq.ft in 2017. However, from 2017 to 2023, the value rose significantly to Rs 2,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 2,700 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. Finally, the 2023 to 2024 revision shows an increase of 8%. Overall, comparing the 2012 and 2024 revisions, 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, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in the village is Rs 1,600 per sq.ft, placing Thanikachalam Nagar E Block Rajaji 2nd St's 2024 figure above this median.

• Thanikachalam Nagar E Block Rajaji 1st St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Rajaji 3rd St (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 Rajaji 4th St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Mahathmaganthi St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Rajaji 5th St (Ward-23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar E Block Rajaji 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 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. Please note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thanikachalam Nagar E Block Rajaji 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 plays a crucial role when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the guideline value to understand the financial implications of their transactions.

During the registration of property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar E Block Rajaji 2nd St (Ward-23)?

The current guideline value for Thanikachalam Nagar E Block Rajaji 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 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?

The land classification for Thanikachalam Nagar E Block Rajaji 2nd St (Ward-23) is Residential Special Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft would incur specific fees that can be calculated using the relevant formulas.