Guideline Value for Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21)

Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21) guideline value

The current guideline value for Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Special Type - I. The guideline value is determined by the Madhavaram Sub Registrar Office (SRO).

How the guideline value of Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21) has changed

The guideline value for Thanikachalam Nagar G Block,Ponniammanmedu has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was revised to Rs 1,675 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent 2024 revision has further increased the value to Rs 2,700 per sq.ft, 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, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which indicates that the current value of Rs 2,700 per sq.ft for Thanikachalam Nagar G Block,Ponniammanmedu is above the median.

• Thanikachalam Nagar F Block,Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar G Block,Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block Main Road (Ward No.24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block 8th St (Ward-24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block 7th St (Ward-24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block 6th St (Ward-24): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21)

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, bringing the total fees to 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 more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21)?

The Sub Registrar Office that covers Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21) 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 in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in real estate transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price, which can impact the total expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21)?

The current guideline value of Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 Thanikachalam Nagar G Block,Ponniammanmedu?

The land classification for Thanikachalam Nagar G Block,Ponniammanmedu is Residential Special Type - I.

Where is the Sub Registrar Office located for this area?

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

How is the stamp duty calculated for properties in Thanikachalam Nagar G Block?

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