Guideline Value for Thilagar St (Ward-28)

Thilagar St (Ward-28) guideline value

The current guideline value of Thilagar St (Ward-28) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Thilagar St (Ward-28) has changed

The guideline value for Thilagar St (Ward-28) has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision, a drop of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 1,300 per sq.ft, marking a rise of 62%.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 8%. Notably, there are no figures available for the revisions in 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. The guideline value for Thilagar St (Ward-28) is below this median.

• Thilagar St ( Ward No.1 ): Rs 1,300 per sq.ft (2024)
• Thilagar Street (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Thilagar St ( Ward No.22 ): 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-28)

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, bringing the total fees together to Rs 1,17,000. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Thilagar St (Ward-28)?

The Thilagar St (Ward-28) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with the regulations set by the local authorities.

Frequently asked questions

What is the current guideline value of Thilagar St (Ward-28)?

The current guideline value of Thilagar St (Ward-28) 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 reflects a decrease of 33% from 2012 to 2017 and an increase of 62% from 2017 to 2024.

What is the land classification of Thilagar St (Ward-28)?

Thilagar St (Ward-28) is classified as Residential Class III Type - I under the local land classification system.

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 is stamp duty calculated for properties in Madhavaram?

Stamp duty for properties in Madhavaram is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the correct fees are applied during the registration process.