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

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

The current guideline value of Thanikachalam Nagar E Block Rajaji Nagar (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO with a land classification of Residential Special Type - I.

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

Over the years, the guideline value for Thanikachalam Nagar E Block Rajaji Nagar 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. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it further to Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 shows an increase of 8%, reflecting the current guideline value of Rs 2,700 per sq.ft.

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 of Rs 2,700 per sq.ft for Thanikachalam Nagar E Block Rajaji Nagar is above this median.

• Thanikachalam Nagar E Block Rajaji 5th St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar E Block Rajaji St (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 F Block 1th St (Ward-24): 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 F Block 2nd St (Ward-24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar E Block Rajaji Nagar (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 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, making the total cost for stamp duty and registration fees 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 further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Thanikachalam Nagar E Block Rajaji Nagar (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

When buying or selling property in Madhavaram, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller comply with the legal requirements.

The guideline value is updated periodically, reflecting changes in the real estate market and local conditions. This ensures that the values remain relevant and fair for transactions within the area.

Frequently asked questions

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

The current guideline value for Thanikachalam Nagar E Block Rajaji Nagar (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 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 Nagar (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 is the stamp duty calculated for property transactions?

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