Guideline Value for Thendral Nagar 8th Street

Thendral Nagar 8th Street guideline value

The current guideline value of Thendral Nagar 8th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thendral Nagar 8th Street has changed

The guideline value for Thendral Nagar 8th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the most recent 2024 revision has increased the value back to Rs 2,700 per sq.ft, marking a significant increase of 61% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street in the register.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the 2024 figure for Thendral Nagar 8th Street.

• Thendral Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 6h Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thendral Nagar 8th Street

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 cost for these 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.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Thendral Nagar 8th Street?

The Sub Registrar Office that covers Thendral Nagar 8th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government collects the appropriate taxes based on the property's value.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall cost of the transaction. Buyers must be aware that the fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thendral Nagar 8th Street?

The current guideline value of Thendral Nagar 8th Street 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 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What is the land classification of Thendral Nagar 8th Street?

Thendral Nagar 8th Street 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 the stamp duty calculated for properties in Thendral Nagar 8th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,89,000.