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Guideline Value

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Guideline Value for Thirumalai Nagar 1st Main Road (Ward 24)

₹2700/sq.ft.

The guideline value for Thirumalai Nagar 1st Main Road (ward 24) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Thirumalai Nagar 1st Main Road (ward 24)

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Thirumalai Nagar 1st Main Road (Ward 24) guideline value

The current guideline value of Thirumalai Nagar 1st Main Road (Ward 24) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Special Type - I.

How the guideline value of Thirumalai Nagar 1st Main Road (Ward 24) has changed

The guideline value for Thirumalai Nagar 1st Main Road has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 61%.

Overall, when comparing the 2012 and 2024 revisions, the guideline value has seen a modest increase of 8%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram village, 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. The median value for these streets is Rs 1,600 per sq.ft, placing Thirumalai Nagar 1st Main Road's 2024 guideline value above this median.

Stamp duty and registration fee for property in Thirumalai Nagar 1st Main Road (Ward 24)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thirumalai Nagar 1st Main Road (Ward 24)?

The Sub Registrar Office that covers Thirumalai Nagar 1st Main Road (Ward 24) 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 plays a crucial role in property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue based on the official valuation of the property.

When selling property, the guideline value helps establish a baseline for negotiations between buyers and sellers. It provides a reference point that can influence the final sale price and the associated costs during the registration process.

Frequently asked questions

What is the current guideline value of Thirumalai Nagar 1st Main Road (Ward 24)?

The current guideline value of Thirumalai Nagar 1st Main Road (Ward 24) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification for Thirumalai Nagar 1st Main Road?

Thirumalai Nagar 1st Main Road is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Thirumalai Nagar 1st Main Road located?

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