Guideline Value for Thiruganansambandam Street

Thiruganansambandam Street guideline value

The current guideline value of Thiruganansambandam Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Thiruganansambandam Street has changed

The guideline value for Thiruganansambandam Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. Thiruganansambandam Street's 2024 figure is above this median.

• ThiruGnana Sambandam Street/Srinivasa Nagar: Rs 3,850 per sq.ft (2024)
• Thilak Street: Rs 2,200 per sq.ft (2024)
• Thirumalai Street: Rs 1,650 per sq.ft (2024)
• Thilagar Avenue Errikkarai Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue/Bharath Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue,Balaiah Nagar,: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruganansambandam Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can calculate your specific fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruganansambandam Street?

The Sub Registrar Office that covers Thiruganansambandam Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that all transactions are documented at a fair value.

During the registration process, the guideline value is used to calculate applicable fees such as stamp duty and registration fees. Buyers should be aware that these costs can significantly impact the overall expenditure involved in property transactions.

Frequently asked questions

What is the current guideline value of Thiruganansambandam Street?

The current guideline value of Thiruganansambandam Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, an overall increase of 64%.

What is the land classification of Thiruganansambandam Street?

Thiruganansambandam Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Thiruganansambandam Street?

The Velacheri Sub Registrar Office, which covers Thiruganansambandam Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Thiruganansambandam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500.