Guideline Value for Thilagar St ( Ward No.22 )

Thilagar St ( Ward No.22 ) guideline value

The current guideline value of Thilagar St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO with a land classification of Residential Class III Type - I.

How the guideline value of Thilagar St ( Ward No.22 ) has changed

The guideline value for Thilagar St ( Ward No.22 ) has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2024 revision, the guideline value increased significantly to Rs 1,300 per sq.ft, representing a rise of 62% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Thilagar St ( Ward No.22 ) has a guideline value that is below this median.

• Thilagar St ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Thilagar St (Ward-28): Rs 1,300 per sq.ft (2024)
• Thilagar Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Thilagar St, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Thilagar St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)
• Thilagar St 2nd st ( Ward No.28 ): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar St ( Ward No.22 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Thilagar St ( Ward No.22 )?

The Sub Registrar Office that covers Thilagar St ( Ward No.22 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is an important factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers and sellers must consider the guideline value as it affects the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thilagar St ( Ward No.22 )?

The current guideline value of Thilagar St ( Ward No.22 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, and then increased to Rs 1,300 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by a 62% increase from 2017 to 2024.

What is the land classification for Thilagar St ( Ward No.22 )?

Thilagar St ( Ward No.22 ) is classified as Residential Class III Type - I, indicating its use for residential purposes within the locality.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000.