Guideline Value for Thendai Mada Veethi

Thendai Mada Veethi guideline value

The current guideline value of Thendai Mada Veethi is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Ist Division village under the Kanchipuram Joint IV SRO and is classified as Residential Class I Type - I.

How the guideline value of Thendai Mada Veethi has changed

The guideline value for Thendai Mada Veethi has seen several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased the value to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, marking a 10% rise 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 10%.

Guideline values in Ist Division

In Ist Division, there are 79 streets under the Kanchipuram Joint IV SRO with a 2024 guideline value ranging from Rs 800 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, making the current value of Thendai Mada Veethi above that median.

• Thirawpathi Nagar: Rs 880 per sq.ft (2024)
• Thirukatchi Nambi Street: Rs 3,300 per sq.ft (2024)
• Thirumalai Nagar: Rs 880 per sq.ft (2024)
• Swarnapuri Nagar: Rs 880 per sq.ft (2024)
• Sunnambukara Street: Rs 1,650 per sq.ft (2024)
• Thiruppukudal Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Thendai Mada Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total amount for these fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thendai Mada Veethi?

The Sub Registrar Office that covers Thendai Mada Veethi is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential figure used during the registration of property transactions in Ist Division. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions as set by the government. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Thendai Mada Veethi?

The current guideline value of Thendai Mada Veethi is Rs 1,650 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 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Thendai Mada Veethi?

Thendai Mada Veethi is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Thendai Mada Veethi?

The Sub Registrar Office for Thendai Mada Veethi is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thendai Mada Veethi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.