Guideline Value for Thirupathi Thangavel Nagar (Ward-24)

Thirupathi Thangavel Nagar (Ward-24) guideline value

The current guideline value for Thirupathi Thangavel Nagar (Ward-24) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Thirupathi Thangavel Nagar (Ward-24) has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. The latest revision in 2024 has increased this figure to Rs 1,600 per sq.ft, marking a change of +33% from the previous revision. The register does not provide figures for the years 2003, 2007, 2017, and 2023 for this street.

Thus, the only revisions recorded for Thirupathi Thangavel Nagar (Ward-24) are from 2012 and 2024, with no available data for the intervening years. The current guideline value aligns with the median value of Rs 1,600 per sq.ft for the 1946 streets in Madhavaram under the Madhavaram SRO.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. Thirupathi Thangavel Nagar (Ward-24) is positioned at this median value.

• Thirupathi Thangavel Nagar 2nd St (Ward No.24): Rs 1,600 per sq.ft (2024)
• Thirupathi Thangavel Nagar 1st St (Ward No.24): Rs 1,600 per sq.ft (2024)
• Thiruppur Kumaran st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar (Ward-10): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar Road (Ward No.10): Rs 1,300 per sq.ft (2024)
• Thirumurugan Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirupathi Thangavel Nagar (Ward-24)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thirupathi Thangavel Nagar (Ward-24)?

The Sub Registrar Office that covers Thirupathi Thangavel Nagar (Ward-24) 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 is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Madhavaram, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. This ensures that all parties involved are compliant with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Thirupathi Thangavel Nagar (Ward-24)?

The current guideline value for Thirupathi Thangavel Nagar (Ward-24) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value was Rs 1,200 per sq.ft in 2012 and increased to Rs 1,600 per sq.ft in 2024, representing a +33% change. There are no figures available for the years 2003, 2007, 2017, and 2023 for this street.

What is the classification of land in Thirupathi Thangavel Nagar?

Thirupathi Thangavel Nagar is classified as Residential Class II Type - I. This classification is important for determining the guideline value and property usage.

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 property registrations for the area.

What fees are associated with property transactions in Thirupathi Thangavel Nagar?

When transacting property in Thirupathi Thangavel Nagar, buyers need to consider the stamp duty and registration fees. For example, for a 1,000 sq.ft plot, the total fees could amount to Rs 1,44,000 based on the current guideline value.