Guideline Value for Thiru.Vi.Ka 4th Street (Ward-13)

Thiru.Vi.Ka 4th Street (Ward-13) guideline value

The current guideline value of Thiru.Vi.Ka 4th Street (Ward-13) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Thiru.Vi.Ka 4th Street (Ward-13) has changed

The guideline value for Thiru.Vi.Ka 4th Street has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a drop of 33%. However, the latest revision in 2024 saw an increase of 59%, bringing the value back up to Rs 1,600 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the current value for Thiru.Vi.Ka 4th Street.

• Thiru.Vi.Ka 3rd Street (Ward-13): Rs 1,600 per sq.ft (2024)
• Thiru.Vi.Ka 5th Street (Ward-13): Rs 1,600 per sq.ft (2024)
• Thiru.Vi.Ka 2nd Street (Ward-12): Rs 1,600 per sq.ft (2024)
• Thiru.Vi.Ka 6th Street (Ward-13): Rs 1,600 per sq.ft (2024)
• Thiru.Vi.Ka 1st Street (Ward-12): Rs 1,600 per sq.ft (2024)
• Thiyagi Sankarlinganar St, Lakshmipuram (Ward-25): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka 4th Street (Ward-13)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiru.Vi.Ka 4th Street (Ward-13)?

The Sub Registrar Office that covers Thiru.Vi.Ka 4th Street (Ward-13) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiru.Vi.Ka 4th Street (Ward-13)?

The current guideline value of Thiru.Vi.Ka 4th Street (Ward-13) is Rs 1,600 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, and then increased to Rs 1,600 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current value for Thiru.Vi.Ka 4th Street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thiru.Vi.Ka 4th Street (Ward-13) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.