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

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

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

Over the years, the guideline value for Thanikachalam Nagar E Block Rajaji St has seen several revisions. 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 the 2017 revision. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and finally rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, between the 2012 and 2017 revisions, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value increased by 8%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the guideline value for Thanikachalam Nagar E Block Rajaji St (Ward-23) above the median.

• Thanikachalam Nagar E Block Rajaji Nagar (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 5th 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)
• Thanikachalam Nagar E Block Rajaji 4th St (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block 3rd St (Ward-24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar E Block Rajaji 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, 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 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 precise calculations.

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

The Sub Registrar Office that covers Thanikachalam Nagar E Block Rajaji 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 details.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value for Thanikachalam Nagar E Block Rajaji 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. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Thanikachalam Nagar E Block Rajaji St (Ward-23)?

The land classification for Thanikachalam Nagar E Block Rajaji 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 is stamp duty calculated for properties in Thanikachalam Nagar E Block Rajaji St (Ward-23)?

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