Guideline Value for Thilagar St, Lakshmipuram (Ward-25)

Thilagar St, Lakshmipuram (Ward-25) guideline value

The current guideline value of Thilagar St, Lakshmipuram (Ward-25) 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, Lakshmipuram (Ward-25) has changed

Over the years, the guideline value of Thilagar St has seen several revisions. In 2012, the guideline value was set at Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in 2017, marking a decline of 33%. However, the 2024 revision has seen a significant increase, bringing the guideline value back up to Rs 1,300 per sq.ft, which is a 62% rise from the 2017 figure.

When considering the overall change from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Thilagar St, Lakshmipuram's 2024 figure is below the median.

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

Stamp duty and registration fee for property in Thilagar St, Lakshmipuram (Ward-25)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to 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, leading to a total of Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thilagar St, Lakshmipuram (Ward-25)?

The Sub Registrar Office that covers Thilagar St, Lakshmipuram (Ward-25) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates.

When buying or selling property, the guideline value helps both buyers and sellers understand the official value of the property, which is essential for legal and financial transactions. It is vital to ensure that the property is registered at the correct guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Thilagar St, Lakshmipuram (Ward-25)?

The current guideline value of Thilagar St, Lakshmipuram (Ward-25) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for Thilagar St, Lakshmipuram (Ward-25)?

Since 2012, the guideline value has seen fluctuations, starting at Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, and then rising to Rs 1,300 per sq.ft in 2024.

What is the land classification for Thilagar St, Lakshmipuram (Ward-25)?

Thilagar St, Lakshmipuram (Ward-25) is classified as Residential Class III 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 Thilagar St, Lakshmipuram (Ward-25)?

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 guideline value would incur a stamp duty of Rs 91,000.