Guideline Value for Thanikachalam Nagar F Block 1th St (Ward-24)

Thanikachalam Nagar F Block 1th St (Ward-24) guideline value

The current guideline value for Thanikachalam Nagar F Block 1th St (Ward-24) 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 F Block 1th St (Ward-24) has changed

Since the 2012 revision, the guideline value for Thanikachalam Nagar F Block 1th St has seen several changes. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 2,500 per sq.ft, reflecting a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,700 per sq.ft, representing 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, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range 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 F Block 1th St is above this median, indicating a higher valuation compared to many other streets in the area.

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

Stamp duty and registration fee for property in Thanikachalam Nagar F Block 1th St (Ward-24)

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 fees 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 the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Thanikachalam Nagar F Block 1th St (Ward-24)?

The Sub Registrar Office covering Thanikachalam Nagar F Block 1th St (Ward-24) 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 in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value of a property for the purposes of registration. Buyers and sellers must consider this value when negotiating the sale price, as it affects the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations and avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Thanikachalam Nagar F Block 1th St (Ward-24)?

The current guideline value for Thanikachalam Nagar F Block 1th St (Ward-24) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street 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 Thanikachalam Nagar F Block 1th St (Ward-24)?

The land classification for Thanikachalam Nagar F Block 1th St (Ward-24) is Residential Special Type - I.

Which Sub Registrar Office should I visit for transactions in Thanikachalam Nagar F Block 1th St (Ward-24)?

You should visit the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060 for any property transactions in this area.

How is the stamp duty calculated for properties in Thanikachalam Nagar F Block 1th St (Ward-24)?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable.