Guideline Value for Thapalpetty (Ward-18)

Thapalpetty (Ward-18) guideline value

The current guideline value of Thapalpetty (Ward-18) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thapalpetty (Ward-18) has changed

The guideline value for Thapalpetty has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 raised it further to Rs 2,200 per sq.ft.

From 2012 to 2017, there was a decrease of 11%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has risen by 47%.

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 the area is Rs 1,600 per sq.ft, placing Thapalpetty's 2024 figure above this median.

• Thatchan Street: Rs 1,600 per sq.ft (2024)
• Thattankulam Road ( Ward No.11 ): Rs 1,600 per sq.ft (2024)
• Thanikachalam Nagar G Block,Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar G Block,Ponniammanmedu (Ward-21): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block,Ponniammanmedu (Ward-24): Rs 2,700 per sq.ft (2024)
• Thanikachalam Nagar F Block Main Road ( Ward No.24 ): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thapalpetty (Ward-18)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 accurate calculations.

Which Sub Registrar Office covers Thapalpetty (Ward-18)?

The Sub Registrar Office that covers Thapalpetty (Ward-18) 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 during the registration of property transactions in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded at an official value recognized by the registration authorities.

Frequently asked questions

What is the current guideline value of Thapalpetty (Ward-18)?

The current guideline value of Thapalpetty (Ward-18) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Thapalpetty (Ward-18)?

Thapalpetty (Ward-18) is classified as Residential Class I 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 in Thapalpetty (Ward-18)?

Stamp duty is calculated based on the higher of the guideline value or the sale price, with the current rate being 7% for stamp duty and 2% for the registration fee.